Pro Farmer
Early classing data from USDA shows color grades slipping
Corn, wheat futures drift lower overnight on lack of fresh news; September CPI data on deck
USDA’s good-to-excellent ratings for corn rise unexpectedly after hitting lows of the crop season
A mismatch between USDA and Crop Tour findings is growing bigger
Prices continue in consolidation pattern after last week’s reports.
Lower closes across the board after impressive mid-session strength.
Cattle futures shore up premiums to the cash market.
Corn futures fell about 5% as USDA raised the national yield. Former USDA chief economist Seth Meyer says the data raises fair questions, but he doesn’t think sampling alone explains the jump.
OSU’s Derrell Peel notes a delayed fall run may mean cattle numbers simply aren’t there, lending underlying support to Q4 prices.
Markets are still reeling from the fresh data in Friday’s report.
Weekly export inspections and crop progress data due after Monday’s holiday