News
Sept. 1 corn stocks of 1.760 billion bu. were short of analysts’ average pre-report estimate by 84 million bu., while soybean stocks of 342 million bu. were shy 9 million bu. Wheat stocks and production were each slightly above pre-report estimates.
Tentative accord to end four-day strike
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Ongoing labor dispute with ILA
Ag groups urge Biden to address port labor, Mexican rail embargoes, and Mississippi River water levels impacting U.S. ag
Corn and soybeans traded on either side of unchanged overnight while wheat saw relative weakness. Positioning ahead of Monday’s reports is likely to drive trade today.
Soybeans and corn traded on either side of unchanged overnight, but are weaker early this morning, while wheat faced mild followthrough selling throughout the session.
Most of the Hogs & Pigs Report data was neutral, aside from hefty late-year market hog inventories.
