Agriculture News
Weekly soybean sales during the week ended Jan. 25 missed the pre-report range by over 330,000 MT, while soymeal sales exceeded expectations. Corn and wheat sales were within pre-report estimates.
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.
Weekly soybean sales during the week ended Jan. 18, missed the low-end pre-report estimate by 140,000 MT and were down 28% from the previous week.
Corn, soybeans and wheat held in tight ranges in light overnight price action.
Basis and cash prices firmed for corn and soybeans.
Cash corn and soybean prices rose for the first time in a month.
Corn, soybeans and wheat modestly extended recent corrective gains during the overnight session.