Agriculture News
Weekly corn inspections during the week ended Feb. 15 rose a modest 26,000 MT, while soybean and wheat inspections declined on the week.
No changes to short-term trends for grain and livestock markets.
Soybeans built on last Friday’s gains during overnight trade, while corn and wheat followed to the upside amid corrective buying.
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Corn and soybeans posted corrective gains overnight, while wheat faced followthrough selling.
Monthly survey of rural bankers finds growing pessimism.
Weekly soymeal sales totaled 203,400 MT during the week ended Feb. 8, missing the pre-report range, while corn sales held steady at 1.31 MMT. Wheat and soybean sales were near the low-end of pre-report estimates.
The extended forecast suggests spring planting should advance rather rapidly and favors early crop development.
The initial projections are based on the January WASDE Report. These are USDA’s current best guesstimates. A lot can (and will) change.
Corn, soybeans and wheat extended Wednesday’s losses during the overnight session.