Grains mixed in the overnight. Wheat is currently unchanged, corn is down 2 ¼ cents, and beans are down a penny.
U.S. stocks saw a lower open over relief on a reworked NAFTA deal and anti-euro comments that again sparked investor concern.
USDA crop conditions showed soybeans rated G/E at 68%. Soybean harvest was 23 % vs 20% ly.
USDA corn crop conditions report showed crops rated G/E at 69%. Corn harvest was 26% vs 16% ly.
FC Stone on Monday raised its estimate of the average U.S. 2018 corn yield to 182.7 bu/acre. Soybean yield was raised to 54.0 bpa. USDA is at 181.3 bushels per acre in corn and 52.3 bushels per acre in soybeans.
Chart of the Day
The national corn harvest matched trade estimates as of Sunday night at 26% complete, up from 16-17% both last year and on average; that’s two weeks ahead of last year’s pace and the fastest pace since 2012 (when harvest was flying after a dry season, to 54% as of 10/1). Soybean harvest fell a few points behind expectations at 23% done, still above LY and the 5YA at 20% each but roughly in line with the 2016 campaign. The U.S. 5YA soybean harvest number will stand at more than 35% done by this Sunday.