Market participants have been waiting two long months for today’s report, below are the estimates.
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Traders cull information and pare risk before the USDA report next Monday.
Soybeans managed to defend the previous day's lows and technical support again.
Traders Focus On Upcoming USDA Report. Below are estimates for Monday’s USDA report
Corn and Soybean Crop Progress report showed good/excellent ratings, in line with expectations.
Better weather and the dismal demand have led to long liquidation, outweighing the fears over potential production disruptions this year.
Trump tweets don’t answer the lingering questions over this year’s grain production concerns.
Corn futures got taken to the woodshed yesterday as the end of the month positioning led to broad pressure in the Ag sector. Bean futures fell on no progress in the US-China trade deal.
The market is softer this morning on the back of a tweet from President Trump. “was supposed to start buying our agricultural product now - no signs that they are doing so.