Grain trade will have a couple of hours to trade numbers from today’s monthly crop report, and then we’ll have to wait until Tuesday when markets reopen. Columbus Day holiday on Monday, markets will be closed, as well as banks, post offices, and government offices. Most analysts expect USDA to lower corn production from the September report.
Average estimates have corn 178 bushels per acre and production 15.7 billion. They look for the soybean number today to be very near unchanged from September. This is the bottom-line report.
We mentioned yesterday the second week of October could many times provide the largest percent of gain in harvest activity, but it will be a very slow harvest, if any, in this area with a tropical storm moving across the Gulf.
Audio Reporting by Mark Oppold for Southeast AgNet.