Agriculture News
Corn and soybean futures mildly favored the downside in quiet, two-sided overnight trade, while wheat firmed.
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.
Traders expected a 0.5% decline in the Dec. 1 hog inventory.
Placements declined less than expected, while marketings fell more than anticipated.
The increase in beef stocks was about average during November.
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Corn, soybeans and wheat modestly favored the upside, while holding in tight trading ranges during a quiet overnight session.
The projected decline in grocery store prices would be the first since they dropped 1.3% in 2016.