The trade is looking for new market news to chew on.
All crop-season long, the USDA good/excellent ratings have either been falling or holding steady. Rarely, have investors seen big improvements in crop progress.
The USDA pegged the U.S. soybean crop as declining vs. a week ago.
The longer term weather outlook brings rain to the Corn Belt. But, for the next five days, dry conditions are expected to prevail.
On Friday, investors are scratching their heads about how the U.S. will chew through the expected large corn and soybean supplies in 2018.
In its August Supply/Demand Report, USDA lowers its corn crop size, market reacts negatively.
With plenty of moisture and cool temperatures, some longtime Southern farmers are seeing the best corn ever.
The trade is expecting a friendly report for the corn market, with yield estimates seen coming down.
Buyers like the soybean market ahead of Thursday’s USDA Report.
The corn ratings are well below a year ago, while the soybean ratings appear to be improving.