AG Day 7/12/2019

The Gulf Coast is bracing for an impact from a storm that's likely to turn into a hurricane.   

Right now authorities have suspended all ships entering and exiting the lower Mississippi River due to the storm.   

The area accounts for 60-percent of US soybean exports and 59-percent of US corn  exports – by far the leading export region for both commodities.     

USDA  releasing it's July crop production report ahead of the storm.   And even though it plans to re-survey for August, there are a few surprises.

It is leaving corn yields unchanged at 166-bushels per acre, but raising the overall production based on higher planted acres.   

For Soybeans, USDA reducing yields by one bushel to the acre.   

USDA expecting fewer planted and harvested acres to go along with those lower yields.  

Some surprises in corn stocks coming in much higher than expectations.  But soybeans and wheat stocks are below expectations.   

The US and China have restarted trade talks but China has still not made large purchases of US ag product as President Trump said they would after meeting with Chinese President Xi Jinping at the G-20 summit in Japan late last month.   

President Trump tweeting about it "Mexico is doing great at the border, but China  is letting us down in that they have not been buying the agricultural products from our great  farmers that they said they would.  Hopefully they will start soon."

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss