Agriculture News
Corn, soybeans and wheat traded higher overnight amid light corrective buying ahead of USDA’s January crop reports later this morning and support from rising crude oil tied to increased Middle East tensions.
FNC sees stable farmland values.
Weekly soybean, wheat and soymeal sales fell short of expectations for the week ended Jan. 4, while corn sales were near the low-end of the pre-report range.
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.