Buyers and sellers of U.S. cash grain were moving cautiously to start the trading week, ahead of an important government crop report slated for release on Tuesday.
“The primary objective of today’s session will be positioning for tomorrow’s monthly [USDA] supply and demand report,” said Iowa commodity trade advisor Karl Setzer. “Most analysts are expecting a reduction to corn yield from the October report. At the same time, trade seems to be looking for a higher soybean yield estimate. The real question in the report will be what is done to usage, as this is more of a factor for ending stocks than production in most
years.”