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Improved crop rating sends soybeans lowerImproved crop rating sends soybeans lower

Mild weather outlook weighs on crop. (audio)

August 1, 2017

1 Min Read

Soybeans moved sharply lower on Tuesday, with new-crop November under $10 a bushel and near a one-month low, after USDA late on Monday reported a 2-point improvement in the crop’s percentage rating.

Corn’s condition dropped 1 point in that USDA report, but prices still moved lower as forecasts favor mild weather conditions this week and next week for the Midwest.

The wheat markets followed the corn and soybeans lower. Spring wheat was down despite USDA lowering that crop rating 2 points. Spring wheat harvest was 9% done as of Sunday, which matched last year and the five-year average.

Listen to the report using the audio link on this page.

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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