Agriculture News
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Net soybean sales during the week ended Feb. 15 were down 84% from the previous week, while weekly corn and wheat sales were down 37% and 33%, respectively.
Corn, soybeans and wheat firmed amid corrective buying during the overnight session.
Wheat futures led a round of corrective buying in the grain markets during overnight trade.
Central Illinois cash corn price below $4.00 for first time since October 2020.
Cash hog prices gained strength in the seasonal rebound.
Fed fund futures continued to reflect the greatest odds for a Fed rate cut starting in June, with three or perhaps four reductions by year-end.
Tuesday’s corrective buying in the grain and soy markets dried up overnight, as corn, soybeans and wheat faced price pressure.
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.