CBOT grain futures are mixed premarket ahead of this afternoon's yearly planting report from the USDA. Acres are largely expected to hew closely to previous forecasts. But even if planted acreage were to decrease, U.S. farmers would still likely produce an abundance of crops. In a note, Michael Cordonnier from Soybean & Corn Advisor says that for both corn and soybeans, a plurality of states are poised to deliver "above trend line" yields--or yields stronger than the typical improvement yields see on a yearly basis. Much of the Corn Belt had adequate rainfall in June, but is expected to start July on a drier note. CBOT corn is down 0.1%, while soybeans fall 0.4% and wheat is up 0.3%. (kirk.maltais@wsj.com)
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Grains Mixed as Strong Yields Anticipated — Market Talk
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CBOT grain futures are mixed premarket ahead of this afternoon's yearly planting report from the USDA. Acres are largely expected to hew closely to previous forecasts. But even if planted acreage were to decrease, U.S. farmers would still likely produce an abundance of crops. In a note, Michael Cor…