AgriSompo North America market analyst Sterling Smith says USDA’s soybean yield was major surprise to the market. “The market was completely blindsided by that. This surprise sent soybeans spiking lower, taking corn with it. The wheat market didn’t even really trade.” This report was friendly to the wheat market. “As far as wheat, yields were bumped up, as expected. Ending stocks were cut. While wheat is largely not traded much, this was fairly supportive to wheat.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.