Morning Market Review by Bryce Knorr
Morning Price Trends
Corn: Down 4
Soybeans: Down 5
Wheat: Up 1 to 2
While investors wait for details of the latest jobs report this morning, those in the grain market are getting more private crop estimates today, including results from the latest Farm Futures survey.
Corn prices are drifting lower this morning, as traders wait for the latest round of crop estimates. Farm Futures puts 2012 corn production at just 9.86 billion bushels, with an average yield of 117.6 bushels per acre. Those numbers are well below trade guesses currently and are based on both our survey of 1,800 growers and current crop ratings.