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Daily market wrap for August 13 shows most grain and oilseed futures easing about one percent, with Chicago December corn down 6 cents and soybeans down 16.5 cents. The commentary cites USDA's August WASDE, which raised U.S. soybean production and ending stocks and lowered U.S. wheat production.
The wrap reflects the bearish reaction to larger soybean supplies, which pressures soybean meal costs for feed buyers. Wheat was mixed as lower U.S. production offset weaker global prices.
graincentral.comGuest AuthorAug 12, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The market wrap shows soybeans down 16.5 cents after the WASDE raised production and stocks, confirming the price reaction.
