Ad Astra Brands

Soybeans, corn, wheat drop after USDA numbers

SHARE NOW

Soybeans were sharply lower on fund and technical selling, pulling contracts to a modestly lower weekly finish. Soybean stocks were below a year ago, but larger than expected, with slower indicated fourth quarter disappearance. The stocks total also serves as the unofficial first guess for final 2022/23 U.S. ending stocks. The USDA did downgrade the 2022 production total slightly, but it wasn’t much of a factor due to the slower than anticipated export demand. There’s been talk, but no confirmation, of China switching some U.S.

Soybeans, corn, wheat drop after USDA numbers