USDA report

It's the last trading day of the month and we have a USDA report due out at 11:00 AM CT.
It's the last trading day of the month and we have a USDA report due out at 11:00 AM CT.
2021 could see a commodity bull market return— soybeans would be a commodity to watch. There are plenty of fundamental stories to keep the trade interesting, as well as solid technicals to guide investors as prices continue to climb.
The grain complex has been extremely volatile over the last 4-6 months, with soybeans rallying over $4.50 and corn $1.60.
Grain markets as a whole are still digesting last week’s USDA update.
Soybeans futures closed at the highs of the week, unlike corn and wheat, as it’s certainly pricing in a much smaller 2020 crop size than what was being advertised weeks ago. However, crop condition ratings remain well above both last year and the long-term average.
Demand from China, Iowa crop, conditions have all contributed to the recent rallies in Corn and Soybean futures.
Corn futures made a slow and steady walk higher this past week, with the Sunday night open being the low. For Soybean futures the low of the week was also the Sunday night open with a push into Fridays high tick close.
Genetically engineered Corn and Soybeans both saw their ratings drop in Monday's grain report sending prices higher so far this week.
Wheat fell on weather reports out of Australia and South America while Corn and Beans hung there, supported by a lack of rain in August.