Agriculture News
USDA showed weekly corn inspections of 1.082 MMT for week ended Dec. 21, topping the pre-report range by over 150,000 MT.
Corn, soybeans and wheat traded in narrow ranges during the overnight session.
Basis firmed for soybeans and is now positive.
Corn, soybean and wheat futures traded narrowly on either side of unchanged during quiet overnight price action.
Soybeans erased Monday’s gains during overnight trade, while corn and the winter wheat markets faced mild followthrough selling.
Wheat inspections were near the middle of the expected range.
Short-term trend turns bearish for U.S. dollar index.
Corn modestly favored the downside overnight, while soybeans and wheat failed to sustain early price strength and have weakened this morning.
Access this week’s newsletter here.
The Biden administration will use the GREET model for determining SAF credits, but will update the methodology by March 1.