Favorable Harvest Conditions Sink Soybean Futures

Agriculture

I’m Clinton Griffiths with today’s AgDay Minute.

Soybeans have been trading above the important 10-dollar mark on the commodity market as of late. But they sunk on Thursday. Many traders concerned about something that’s good news right now for farmers’ favorable harvest conditions. USDA Meteorologist Brad Rippey says we’ve had an extended stretch of dry conditions and that has helped corn and soybeans. We’ve also seen a warming trend in areas that saw an early frost, particularly the Great Lakes region on into the northeastern part of the country. Rippey says harvest right now is way ahead of where it was this time last year when farmers were still dealing with the after-effects of a wet planting season and late crop maturity that led to a delayed harvest.

Smoke from the West Coast wildfires has tainted several grapes in some of the nation’s most celebrated wine regions. The resulting ashy flavor could spell disaster for the 20-20 vintage. The smoke from this year’s blazes has been especially bad thick enough to obscure vineyards drooping with clusters of grapes almost ready for harvest.

What are the best cities for a cup of coffee? The personal finance site, Wallet-Hub, did a survey looking at everything from the number of coffee shops to the average price for a cup of coffee. Researchers report Seattle was the best city for coffee-lovers. That’s followed by San Francisco, Portland, and Miami. Coffee selling for about 1-10 per pound on the futures market.

For more ag news watch AgDay, weekdays on this station, or anytime at agweb.com.

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