USDA will update its 2021-22 U.S. demand forecasts in the Feb. 9 Supply & Demand Report, though a bigger focus will be changes to the South American crop forecasts.
Soybean futures reached fresh contract highs overnight. Corn and wheat futures are following beans higher this morning. Livestock futures are mostly higher...
Soybeans were pressured by profit-taking and corrective selling overnight, while the corn and wheat markets faced followthrough selling to Wednesday’s losses.
Soybeans posted new highs overnight, with the March contract topping $15.60 amid a continued price surge tied to South American crop losses and speculative buying. Corn and wheat modestly followed higher.
