Crop Progress Report Update:
Today's Crop Progress report stated the U.S. corn crop is rated at 74% good to excellent, unchanged from last week and up a whopping 19% from last year. The U.S. soybean crop was down 1% to 71% good to excellent.
Corn harvest is 7% complete, down 8% from the five-year average.
Soybeans harvested is sitting at 3%, down 5% from the five-year average.
The Spring wheat harvest is 86% complete. Good weather and a bit of luck should help harvest get wrapped up by next week.
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At the close:
The December corn futures are trading 1 1/4 cents lower at $3.30 per bushel.
November soybean futures are trading 18 3/4 cents lower at $9.38.
December wheat futures are 2 1/4 cents higher at $4.76 3/4.
Dec. soy oil futures landed down $.46 to $32.12 & Dec. soybean meal traded $4.90 lower to $310.50.
According to Alan Brugler of Brugler Marketing & Management LLC, today's Crop Progress Report is expected to show soybean harvest being 3-4% complete and corn harvest to roll in around 11-12% compared to the 4% last week.
Check back for Crop Progress numbers after the report is released at 3:00 PM CST!
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At midsession:
The December corn futures are trading 3 cents lower at $3.28 per bushel.
November soybean futures are trading 20 3/4 cents lower at $9.36 1/4.
December wheat futures are 1 cent lower at $4.73 1/2.
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Good morning!
Sorry I'm so late this morning! Found out just before opent that Mike is out sick today, so I wasn't on my A-game. Will be on it the rest of the day!
Here's what we're seeing this morning...
At the open:
The December corn futures are trading 2 cents lower at $3.29 1/2 per bushel.
November soybean futures are trading 12 1/2 cents lower at $9.44 1/2.
December wheat futures are 3 1/4 cents higher at $4.77 3/4.
In the outside markets, the crude oil is $0.31 per barrel lower, the dollar is lower, and the Dow Jones Industrials are 34.46 points lower to 17,245.28. Europe and Asia stock are all seen lower this morning as well.
