US Grain Market Turns Mixed Ahead of Crucial USDA Report

The US grain market was mixed on September 29th as traders prepared for the USDA's quarterly Grain Stocks report. Corn futures slipped, while soybeans advanced and wheat contracts diverged.

Corn harvest is underway, but weather forecasts are adding uncertainty to fieldwork. Rainfall of up to 3 inches is expected in parts of the Plains and Midwest between Wednesday and Saturday, potentially slowing grain movement through the supply chain.

The USDA's report will provide new estimates of corn, soybean, and wheat inventories as of September 1st. Analysts expect a rise in corn stocks by around 360 million bushels compared to last year, while soybean and wheat supplies are projected to tighten.