Soybeans were mostly lower on spread trade and profit taking. It was an up and down day after the post-USDA report jump, with a bigger than expected cut to the yield and acreage numbers, which pulled the new crop ending stocks projection to 200 million bushels with just over 11 months remaining in 2022/23. The USDA’s national good to excellent rating dipped 1%, with another mixed week of weather in the Midwest and Plains. The trade is also waiting to see what the USDA reports Thursday when it issues four weeks of delayed export sales numbers.
Subscribe to our Daily Email Newsletter!
Get the top stories from across Muscatine, Iowa in your inbox each morning.
You have successfully joined our subscriber list.