SB, Wheat Up; Crop Progress Slow
DES MOINES, Iowa (Agriculture.com) -- At midsession, soybeans and wheat climb slightly while corn drops.
At 11 a.m., the December corn futures are trading 2 cents lower at $3.63.
November soybean futures are down 3 cents at $10.25.
December wheat futures are 1 1/4 cents higher at $5.57 3/4.
In the outside markets, the crude oil is $0.04 per barrel higher to $93.90, the dollar is lower, and the Dow Jones Industrials are up 10.08 points to 17,166.78.
The pressure is on as spring wheat is in the second slowest harvest in 24 years.
USDA Crop Progress Report states that North Dakota spring wheat is only 10% done, and Minnesota was only 22% harvested as of Sunday, states Allan Brugler, president of Brugler Marketing & Management.
Corn isn't any further ahead of the ball game.
"North Dakota, South Dakota, Minnesota, Wisconsin, Michigan, Colorado, and Pennsylvania are all states under 20% dented, and are behind their respective five-year averages by an average of 11.5 points," says Brugler.