Agriculture News
During the week ended Jan. 4, weekly wheat inspections topped pre-report estimates by over 140,000 MT, while soybean inspections were just shy of the pre-report range of 700,000 MT to 1.125 MMT.
The average cash soybean price dropped sharply over the past week.
Corn, soybeans and wheat faced mild followthrough selling overnight after heavy losses to open the new year on Tuesday.
Weekly corn inspections during week ended Dec. 28 were down over 650,000 MT from the previous week to 570,000 MT. Wheat and soybean inspections were also down 187,000 MT and 156,000 MT, respectively.
The Current Conditions Index for December was 112, while the Future Expectations Index was 115, both down one point from the previous month.
No overnight grain trade. Grain and livestock markets will resume trading at 8:30 a.m. CT.
In week ended Dec. 21, weekly corn sales totaled 1.242 MMT, up 23% from the previous week, while exports of 1.278 MMT notched a marketing-year high.
Wheat basis and cash prices firmed over the past week.
Cash cattle prices rise for the first time in seven weeks.
USDA showed weekly corn inspections of 1.082 MMT for week ended Dec. 21, topping the pre-report range by over 150,000 MT.