Agriculture News
Soybeans and soymeal will start daytime trade sharply higher on support from Argentine crop concerns.
Soybean and soymeal futures traded sharply higher coming out of the extended holiday weekend on Argentine crop concerns, while corn and wheat followed to the upside.
Survey finds 9% annual boost in farmland values but weaker values when compared to the prior quarter.
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Two-sided directionless trade is expected in the grain and soy markets to start daytime trade, though outside markets are price-negative.
Corn, soybeans and wheat traded in relatively narrow ranges during two-sided overnight price action.
Creighton University’s Monthly Index notes declines in economic indicators.
Areas expected to see both above-normal temps and below-normal precip have been reduced from previous forecasts.
Net corn sales for week ended Feb. 9 were down 12% from the previous week, but up 15% from the prior 4-week average, while Wheat and soybean sales were down 32% and 35% from their respective 4-week averages.
Corn and soybeans are expected to open mildly weaker, while wheat is likely to see a mixed tone.
Corn, soybeans and SRW wheat faced light followthrough selling during overnight trade, while HRW and HRS wheat mildly rebounded.
Farm diesel price falls to the lowest in nearly a year.
Cash hog prices firmed again this week as the seasonal rally is gradually underway.
We expect price pressure seen in corn, soybeans and winter wheat to carry over to the start of daytime trade.
Corn and soybean futures extended Tuesday’s declines during overnight trade, while wheat futures traded narrowly mixed.
Corn and wheat futures are expected to be mildly firmer, while soybeans are called slightly weaker. But we anticipate two-sided, directionless price action.
Two-sided trade was seen in the grain and soy markets overnight, with corn and wheat mildly firmer and soybeans weaker early this morning.
Soybean export inspections were down nearly 360,000 MT from the previous week, but were near the top-end range of pre-report estimates. Soybean inspections are running currently running 1.6% ahead of a year ago.
Corn and wheat are expected to open under mild pressure, while soybeans are likely to be mostly weaker this morning.
