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Soybeans higher, grains lower as USDA report looms

Taiwan buys U.S. corn, Japan is in the market for wheat. (audio)

Soybean futures are higher near midday to recover from the previous day’s losses, while the corn and wheat markets are lower as traders look ahead to Thursday’s USDA crop report.

That report is expected to trim a few bushels from the huge 2016 corn crop and add some bushels to the soybeans. Winter wheat acreage could be the lowest in about 100 years.

Taiwan and unknown destinations bought U.S. corn today and Japan is tendering to buy U.S. and Canadian wheat.

Listen to the report using the audio link on this page.

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.

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