On Wednesday, private exporters reported to the USDA export sales of 106,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year. The marketing year for soybeans began on Sept. 1. On Tuesday, the grain markets closed lower in a volatile day of trade. The combination of higher yield and acreage projections expected in Friday’s USDA report, along with the problems at the Port of New Orleans pressured prices sharply lower.
On Tuesday, The USDA Crop Progress report showed corn conditions were down 1% (at 59% good to excellent). This compares with the long-term average at 63.8%. Soybean conditions were up 1% at 57% good to excellent. This is down 7% from the long-term average (at 64.2%).
Earlier Wednesday morning, the latest set of crop acreage reporting data was inadvertently posted early on the FSA website and taken down shortly thereafter. This data had been scheduled for release Friday, September 10 at 1 pm. To ensure equitable access to this information, FSA has reposted the data on its website.
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