Agriculture News
Soybeans extended Monday’s declines overnight, while corn and wheat pulled back from yesterday’s gains.
February’s Farm Financial Performance Index reading of 85 was 1 point lower than January and 13 points below its most recent peak in December.
Soyoil sales for the week ended Feb. 29 reached a marketing-year high of 29,200 MT, while soybean sales landed above pre-report estimates. Meanwhile, corn and wheat sales were within their respective pre-report ranges.
Corn futures built on Wednesday’s gains overnight, while soybeans and wheat also firmed amid corrective buying.
Corn and soybean basis weakens on the rollover to May futures.
Wheat futures faced followthrough selling during the overnight session, while corn and soybeans held near unchanged in quiet trade.
Corn, soybean and wheat futures pulled back from Monday’s price gains during the overnight session.
Corn, soybean and wheat weekly export inspections during the week ended Feb. 29 each fell from the previous week, though all were within pre-report expectations.
Corn and soybeans traded higher amid corrective buying overnight, while the winter wheat markets favored the downside and spring wheat was mixed.
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