Soybean basis firmed over the past week and is now in line with the three-year average.
Beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Sept. pork stocks dropped, whereas there is normally a small buildup in supplies.
Grain and soy markets are expected to open mostly lower in quiet trade.
Corn, soybeans and wheat posted two-sided price action while holding in relatively tight trading ranges overnight.
Soybeans are expected to open firmer, with wheat and corn likely to face pressure.
Corn faced followthrough selling overnight, while wheat more than erased Monday’s modest gains. Soybeans posted two-sided trade.
Corn and soybeans are expected to open lower, with wheat likely to be mixed.
Soybeans led overnight losses, while corn and the winter wheat markets faced lighter selling.
Corn and wheat futures firmed amid mild followthrough buying overnight, while soybeans pulled back a little.
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across the eastern half of Kansas, along with most of Texas and Oklahoma through January.

Brian Grete