Agriculture News
Corn mildly favored to the downside, while soybeans and wheat were mostly firmer during a lightly traded overnight session.
Corn export inspections missed low-end expectations by nearly 100,000 MT, while wheat was just shy. Soybean export inspections were notable, but below last week’s figure by over 400,000 MT.
Chinese Covid protests rattle markets coming out of the holiday weekend.
Limited movement in short-term price trends during the holiday week.
Corn, soybean and SRW wheat futures faced pressure overnight amid concerns with mounting Chinese Covid protests.
Corn and soybean basis continues to rebound from the harvest lows.
No overnight trade in the grain markets. Grain and livestock markets open at 8:30 a.m. CT and close at 12:05 p.m. CT.
Soybean export sales cooled off for week ended Nov. 17 after the previous week’s large 3 MMT figure. Corn export sales land at over 1.8 MMT, still on the low-end of expectations, with wheat short of top-end by 88 MT.
Big weekly declines in ethanol, DDG prices in Iowa.
Corn and soybean futures favored the upside in overnight trade while wheat futures traded mostly lower.
The HRW CCI rating remains far below average. SRW rating is slightly below average.
Corn, soybean and wheat futures held in tight trading ranges while swinging to both side of unchanged during the overnight session.
Export inspections for week ended Nov. 17 revealed soybeans and wheat near top-end expectations, while corn landed mid-range.
Short-term trend turns bullish for live cattle and lean hog futures.
Corn, soybean and wheat futures faced pressure overnight from Chinese Covid concerns and outside markets.
Nov. 1 feedlot inventories down 2.0%, signaling tight beef supplies.
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Monthly Rural Mainstreet Index negative for sixth consecutive month.
Corn futures built on Thursday’s late corrective rebound during overnight trade, while soybean and wheat also firmed on short-covering.
Cash soybean prices rise as seasonal export demand builds.