Agriculture News
Corn inspections during the week ended March 21 totaled 1.228 MMT, down nearly 100,000 MT on the week but more than double the same week a year-ago. Meanwhile, soybean inspections rose 68,000 MT on the week.
Weekly wheat sales were reported at (109,600) MT for the week ended March 14, which were down noticeably from the previous week. Corn and soybean sales were as expected.
Soybeans posted followthrough buying to Wednesday’s strong gains during overnight trade, while corn and wheat mildly favored the upside.
Cash cattle prices nearing their record high posted in summer 2023.
Most Fed officials expect three rate cuts this year, but fewer committee members anticipate more than three reductions.
Soybean futures reversed losses from the past two days during overnight trade, while corn and wheat faced price pressure.
Corn, soybeans and wheat held in tight ranges during quiet, two-sided overnight trade.
Weekly wheat and soybean inspections during the week ended March 14 fell 164,665 MT and 98,672 MT, respectively, from the previous week. Meanwhile, corn inspections rose nearly 73,000 MT.
Corn and wheat futures posted mild gains amid corrective buying overnight, while soybeans weakened following earlier strength.