Corn futures made a slow and steady walk higher this past week, with the Sunday night open being the low. For Soybean futures the low of the week was also the Sunday night open with a push into Fridays high tick close.
The August USDA crop report was slightly bearish as U.S. corn/soybean yields surpassed trade expectations.T he NASS yield estimates didn't come as a big surprise relative to what traders had been discussing.
Soybeans higher on heavy rains that are stalling planting. We traded above the $9 per bushel level which was a resistance level and now will be a support level. Soybean futures are currently trading at $9.10 per bushel.