eCBOT Close/Early Call
eCBOT closed with soybeans down 8-9c, corn down 5c and wheat down 5-7c.
More than 20% of US corn is still in the fields. Corn continues to reflect a number of issues faced this year in many of the major U.S. growing areas. Out of the 18 largest production states, only North Carolina and Tennessee have finished harvesting. From the remaining 16, only Colorado, Indiana, Kentucky and Texas are above 90% done.
One major analytical firm sees increased corn and soybean planting next year. Informa Economics expects corn planting to be up around 900,000 acres from this year at 86.8 million acres, and has soybeans at 77.2 million acres, an increase of 1.3 million.
Those year to year increases would be due to strong demand from a number of sources, including feed, food and fuel.
The acres are primarily expected to come out of wheat, with Informa anticipating a 2.9 million acre decrease for all types, down to 60.1 million acres.
Early calls for this afternoons CBOT session: Corn futures expected to open 3 to 5 lower; soybeans 6 to 9 lower; wheat 5 to 7 lower.
More than 20% of US corn is still in the fields. Corn continues to reflect a number of issues faced this year in many of the major U.S. growing areas. Out of the 18 largest production states, only North Carolina and Tennessee have finished harvesting. From the remaining 16, only Colorado, Indiana, Kentucky and Texas are above 90% done.
One major analytical firm sees increased corn and soybean planting next year. Informa Economics expects corn planting to be up around 900,000 acres from this year at 86.8 million acres, and has soybeans at 77.2 million acres, an increase of 1.3 million.
Those year to year increases would be due to strong demand from a number of sources, including feed, food and fuel.
The acres are primarily expected to come out of wheat, with Informa anticipating a 2.9 million acre decrease for all types, down to 60.1 million acres.
Early calls for this afternoons CBOT session: Corn futures expected to open 3 to 5 lower; soybeans 6 to 9 lower; wheat 5 to 7 lower.
