News
Corn and soybeans saw action on either side of unchanged overnight, facing a modest increase in selling pressure going into the break.
For the first time since 2019, the federal government has shutdown, immediately hitting farm operations by halting key USDA payments and services across the country.
Corn, soybeans and wheat each saw followthrough selling pressure overnight.
U.S. government shutdown prompts some risk aversion
USDA’s harvested acres estimate drove 62% of the production increase
Markets remain under pressure amid higher than expected corn stocks.
USDA reported quarterly corn stocks data as of Sept. 1 were nearly 200 million bu. higher than the average analyst estimate, while soybeans were slightly below. Wheat production also surpassed pre-report expectations.
Corn, soybeans and wheat each saw modest losses in the overnight session.
Major USDA data out today as U.S. government shutdown looms
In a new memorandum of understanding, the Department’s antitrust division will work with USDA to investigate rising costs of farm inputs such as fertilizer, seed, fuel, and equipment