Haley exits contest, withholds support for Trump | USDA to update voluntary labeling rules for U.S. meat products; concerns raised by Mexico and Canada
Corn, soybean and wheat weekly export inspections during the week ended Feb. 29 each fell from the previous week, though all were within pre-report expectations.
Soybeans led the grain and soy markets lower overnight as May soybeans trade fresh contract lows. Export sales rebounded for corn and wheat but remain abysmal for soybeans, according to this morning’s report.
Weekly cotton sales during the week ended Feb. 22 were down 69% from the previous week and 83% from the four-week average. Meanwhile, corn, soybean and wheat sales each rose week-over-week.
Soybeans led the way higher overnight as soybeans, corn and wheat each saw gains into the break. Each is nearing 10-day moving average resistance, which will be the first real test of the recent bounces.
Weekly corn inspections during the week ended Feb. 22 totaled 1.242 MMT, exceeding the pre-report range by over 91,000 MT and rose nearly 190,000 MT from the previous week.
Corn futures fell to fresh contract lows overnight, dragging wheat lower as well. Soybeans fell to contract lows though saw corrective buying into the break.
