Low volume slow news day today for the markets. Numbers from yesterday's report are still being digested by the trade.
-September USDA Supply/Demand report showed corn yield at 168.2 bpa (166.7 bpa average estimate, 169.5 last month) with production at 13,799 million bushels (13.557 average estimate, 13,901 last month). Soybean yield came in at 47.9 bpa (47.2 bpa average estimate, 48.5 last month) with production at 3,633 million bushels (3.577 average estimate, 3,680 last month).
-China in good faith that talks will go well has removed 25% of the tariffs on soybeans and pork products.
Quick and to the point! Please check back daily as we will post daily short commentaries here along with breaking price news relevant to SCC. Thank you! Have a great day!