Agriculture News
Corn, soybeans and wheat pulled back from Tuesday’s strong corrective gains during overnight trade.
HRW crop ratings improvements over the past month were led by top producer Kansas and Nebraska.
Corn, soybeans and wheat extended Monday’s losses during the overnight session.
Malanga notes the possibility of the Federal Open Market Committee (FOMC) considering a rate cut in March if labor market weakness becomes apparent.
During the week ended Jan. 25, weekly wheat and soybean inspections were down from the previous week, while corn inspections rose 155,000 MT.
Short-term trend turns bullish for lean hog futures.
Corn, soybeans and wheat faced increased selling pressure during overnight price action and are trading near session lows this morning.
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Corn and soybeans faced followthrough selling overnight, while wheat retreated from recent gains.
That would still be the smallest annual increase in overall food prices since they rose 0.9% in 2017.