Friday, February 23, 2018 12:15PM CST
USDA's initial forecast for the 2018-19 crop shows slightly lower yields for corn and soybeans, but a higher wheat yield. Soybean exports could increase by 200 million bushels while corn exports will fall 150 million bushels and wheat exports will fall by 25 million bushels.
Friday, February 23, 2018 12:05PM CST
Overall net farm income will remain at roughly half of the 2013 levels while corn and soybean acreage are both projected at 90 million acres for the 2018 planting season. The bottom line of all of the spreadsheets and bar graphs is that there is no quick reversal in commodity prices on the horizon.
March corn was 1 cent higher, March soybeans were 4 cents higher, and July Kansas City (HRW) wheat was 3 cents higher.
The combination of end-of-week positioning and the upcoming cattle on feed report that will be released Friday afternoon is expected to bring additional market volatility to the entire livestock complex.