Agriculture News
Selling pressure built through the overnight session, with corn, soybeans and wheat trading near session lows earlier this morning.
Weekly corn inspections missed the pre-report range and fell nearly 200,000 MT from the previous week, while wheat fell nearly 90,000 MT and soybeans nearly 190,000 MT.
Short-term trend turns bearish for lean hog futures.
Corn, soybeans and wheat firmed amid mild corrective buying during overnight trade.
A USMCA trade dispute settlement panel rejected a complaint filed by the United States against Canada pertaining to Ottawa’s alleged improper limitation of access to its dairy market.
No overnight grain trade. Grain and livestock markets open at 8:30 a.m. CT for an abbreviated session until 12:05 p.m. CT.
Basis slips a little for corn and soybeans; both weaker than average.
Third quarter banker survey notes declining incomes, still low loan demand and rising farmland values.
USDA’s Weekly export inspections data showed corn, soybean and wheat inspections within pre-report ranges, though soybean inspections are increasingly falling behind year-ago.
The report data was virtually inline with expectations, which should have little impact on prices Monday.