Agriculture News
Weekly corn inspections during the week ended Feb. 22 totaled 1.242 MMT, exceeding the pre-report range by over 91,000 MT and rose nearly 190,000 MT from the previous week.
No changes to the short-term chart trends this week.
Corn, soybeans and wheat traded lower overnight, with nearby corn and soybeans falling to new contract lows.
Placements declined from year-ago levels for a third straight month – a trend that will continue.
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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.