Agriculture News
Weekly export sales for week ended Dec. 29 revealed mild wheat sales, missing low-end expectations by nearly 153,000 MT. Corn sales were also shy by 81,000 MT and soybeans landed on the low range.
Grain and soy futures are expected to open firmer on corrective buying, though it has been a struggle to find sustained buying during daytime trade on bounce attempts this week.
Corn, soybeans and wheat were supported by corrective buying overnight after heavy selling pressure earlier this week.
As of Jan. 3, 70% of the U.S. was covered by abnormal dryness/drought, down four percentage points from the previous week and 15 points below the peak in early November.
Corn and soybeans failed to hold earlier corrective gains late in overnight trade and are expected to open lower this morning.
Corn, soybeans and wheat firmed overnight amid mild corrective buying following sharp losses the first two trading sessions of the new year.
Farmers National Company reports strong gains in farmland prices.
Basis declined for corn and soybeans over the past week but remained positive and above average.
Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.
Soybeans were supported by corrective buying overnight, while corn and wheat faced followthrough selling.
Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.
The Purdue University/CME Group Ag Economy Barometer rallied sharply in December to the highest reading for 2022.
Short-term trends are bullish for grain and soy futures.
Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.
Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend. Outside markets were price-negative, with crude oil weaker and the U.S. dollar sharply higher overnight.
As 2022 comes to a close, it’s time to look back on the events, stories and people that were most influential for agriculture over the past year.
Soybeans are expected to continue their recent price surge amid Argentine crop concerns.
Export sales data for week ended Dec. 22 reported wheat sales topping expectations by over 28,000 MT, while corn and soybean sales were mid-range.
Soybean futures continued their price surge overnight with front-month futures reaching their highest level on the continuation chart since Sept. 13. Corn and wheat traded in narrow ranges on either side of unchanged.