The USDA announced yesterday morning that 517,000 mt of new crop soybeans were sold to China. Soybeans in China’s futures have rallied 80 cents per bushel the last 2 days.
September grain options expire tomorrow. Usually a down day for prices, but the Pro Farmer Tour results may change that. The Tour results will be released tomorrow morning.
Reuter’s Karen Braun commented yesterday:
Averaging 198 bu/acre through 8 stops in W Iowa- Pottawattamie, Harrison, Crawford, Carroll, Sac Counties. That compares with 210 through 8 on this same route last year. Soybean pod counts in a 3x3' plot number 1265 vs 1304 last year. Just happened to stop at the exact same field as last year in northeast Woodbury County, Iowa. Corn yields 165 bu/acre and soybeans 1416 pods in a 3x3' plot. Both slightly lower than last year at 174 and 1478.
Crop Insurance Adjuster, Meghan Yandell on the tour: