Soybeans were sharply higher on fund and technical buying. The USDA didn’t make any changes to the U.S. crop outlook for beans Tuesday – but that is probable in July or August. Still, even if there are tens of millions of acres left to be planted and below trendline yields are also probable, it’s increasingly likely there will be at least some increase in U.S. bean acreage, when compared to March’s prospective planting report. The trade expects more near-term planting delays, along with cooler temperatures, and USDA did tighten the old and new crop global balance sheets.
Continue reading Another round of weather support for grains, oilseeds at Brownfield Ag News.
