HRW crop continues modest late-season improvement, while SRW crop is declining ahead of harvest.
Wheat futures are higher with soybeans under pressure and corn futures caught in the middle. Cattle futures are higher with lean hogs under pressure…
Wheat futures posted strong gains overnight coming off the extended holiday weekend amid ongoing Russian crop concerns. Corn followed to the upside, while soybeans slumped after a firmer start.
The decline in feedlot numbers was the first drop versus year-ago in eight months.
Beef stocks declined less than average during the month, while pork inventories built more than normal.
Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
Grain markets posted two-sided price action in relatively quiet overnight trade.
Basis firmed for soybeans despite a sharp rise in the cash price.
Front-month SRW wheat futures rallied to the highest price since early August during overnight trade, pulling corn and soybeans higher.
Grain and soy futures pulled back from Monday’s strong gains overnight, with soybeans and soyoil facing the heaviest pressure.

Brian Grete