Agriculture News
USDA reported weekly export inspections of 1.264 MMT soybeans during the week ended Jan. 11, which rose 224,000 MT from the previous week. Meanwhile, corn and wheat inspections declined on the week.
Soybeans traded solidly higher overnight, while corn and wheat pivoted around unchanged in light trade.
Basis firmed for soybeans and cash prices dropped.
Corn, soybeans and wheat were unable to build on Tuesday’s corrective gains during overnight trade.
Corn, soybeans and wheat recouped a portion of Monday’s losses during overnight trade.
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.
Short-term trend turns bullish for live cattle and feeders.
Grain futures posted two-sided trade overnight, though markets are mostly weaker this morning.
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