Corn and soybean futures found followthrough buying overnight while wheat futures rebounded as markets were supported by the recent sharp pullback in the U.S. dollar.
Beef stocks increased less than normal during September, though inventories were record-large for the month. Pork stocks declined contra-seasonally last month.
Corn, soybeans and wheat futures open the week under pressure. Cattle futures are mildly firmer and lean hog futures are under corrective selling pressure.
Corn, soybean and wheat futures retreated from Thursday’s gains overnight amid renewed hopes for a Ukrainian grain export extension and pressure from outside markets.
The Seasonal Drought Outlook indicates drought will persist or develop across most areas of the Plains, Delta and Southeast, though there could be some improvement in the Ohio River Valley.
