At the break grains are slightly higher. Wheat up 3 ½ cents, corn up ¾ of a cent, and beans up 2 ¼ cents.
USDA Agriculture Secretary Sonny Perdue says the “U. S. probably made a mistake “ allowing the trade to become too dependent on the Chinese market and that the administration is pursuing new trade deals with many countries.
U.S. corn futures edged up on Friday to hit a two-month high as a forecast for rains stoked fears of harvest delays, pushing the grain towards its biggest weekly gain since July.
The U.S. Southern Plains weather forecast is also wet for the next week with some areas in northern Texas, Oklahoma and Kansas receiving over 5 inches of rain. Temperatures will be turning much cooler for the region into mid-October.
Next USDA Report is out October 11th. Could see increased yields on corn and beans from the USDA.
Chart of the Day
Expected rain through Monday.