Agriculture News
Corn and soybean sales each missed their respective pre-report range for week ended April 13, though weekly wheat sales of 259,000 MT were 1 MT short of topping the pre-report range.
Grain and soy futures will face active followthrough selling after losses overnight and disappointing weekly export sales.
Corn, soybean and wheat futures extended recent losses overnight amid a lack of supportive news and elevated risk aversion.
Highlights of agricultural conditions across the 12 Fed districts.
Grain and soy futures will face pressure from corrective selling and negative outside markets.
Corn, soybean and wheat futures pulled back from gains earlier this week amid corrective selling overnight and negative outside markets.
Inspections of vessels waiting to exit or enter the Ukrainian Black Sea were suspended for a second day in a row. . .
Soybeans are expected to open higher on followthrough buying. Mixed trade is likely in corn and wheat.
Soybean futures led a round of followthrough buying during overnight trade.
Condition ratings continue to show two starkly different U.S. winter wheat crops.
USDA reported corn inspections of 1.215 MMT in week ended April 13, topping the pre-report range of 700,000 MT to 1.05 MMT
Soy futures are expected to open firmer on support from an Argentine grain inspector strike at ports. Corn and SRW wheat are also expected to trade higher, while HRW and HRS wheat futures will likely face light selling.
Soybean futures are trading solidly higher, while corn is mostly firmer and wheat futures are mixed to open the week.
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Grain and soy markets are expected to favor the downside this morning, though corn could find some support from daily export sales to China.
Soybeans faced pressure overnight after a poor close on Thursday, while wheat traded mostly lower and corn was narrowly mixed.
Soybeans are expected to open higher, with wheat likely to face pressure. Corn will be caught in the middle but could pull support from daily export sales to China.
Weekly corn sales landed just above the low-end pre-report estimate, down 58% from the week prior and 68% from the four-week average. Soybean sales were up notably from the week prior and 17% from the four-week average.