ERS further reined in its forecast for both net farm income and net cash farm income this month.
After trading firmer for much of the daytime session, soybean futures slipped just below unchanged on the close. Wheat and corn futures posted bigger declines. Cattle futures closed sharply lower, while hogs were slightly to moderately lower on the day.
Five-day rainfall totals could reach 4 to 8 inches across the southeastern Plains and mid-South. Get more weather highlights.
A sign of an oversold market is when a sizable positive reversal occurs on a bearish fundamental event. Soybeans closed higher following news of political change in Argentina.
Find out how our weighted Crop Condition Index assesses the winter wheat crop and how its ratings compare to year-ago.
Gail Martell points out that rains were needed after dry weather this fall for these regions.
After being under pressure overnight, grain and soy futures reversed course during daytime trade and finished higher on the day. Traders covered short positions in the cattle market, while hog futures saw buyer interest fade late and futures ended with a slight downside bias.
Soybean export inspections fell short of lofty expectations and the pace of shipments dipped further behind year-ago. Get more details.
As of Wednesday, November 25
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