USDA: Neb. corn harvest at 86 percent complete


The corn harvest was at 86 percent complete, compared with 92 percent at this time a year ago and nearly 90 percent on average. Futures underpinned by a decline in USA crop condition ratings and the fact that commodity funds already hold a large net short position in CBOT wheat futures. December wheat delivery fell 7.25 cents, or 1.68 percent, to 4.2425 dollars per bushel. Market underpinned by the fact that commodity funds hold a large net short position in CBOT corn futures.

The Iowa soybean crop is 97 percent complete about five days behind average and Nebraska farmers report they're all but finished with soybeans at 99 percent harvested.

Chicago Board of Trade corn futures ended higher Friday on short-covering and technical buying after the benchmark December contract stayed above a contract low set a day earlier, traders said.

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CBOT January soybeans last traded down 3-1/4 cents at $9.83-3/4 per bushel.

Sorghum was 83 percent harvested, behind 98 percent past year and an average of 92 percent.