Agriculture News
The final CCI rating ahead of dormancy was equal to the five-year average for HRW and 14.8 points above average for SRW.
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.
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Grain markets are expected to open weaker this morning after price pressure overnight.
Corn futures were unable to generate followthrough buying overnight after Thursday’s gains, while the soybean and wheat markets extended yesterday’s declines.
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.
The two-step continuing resolution is expected to clear the Senate, pushing the deadline for a full spending measure to January or February.
Weekly corn sales in week ended Nov. 9 totaled 1.8 MMT, topping expectations by over 250,000 MT, while soybean sales totaled 3.9 MMT.
Corn, soybeans and wheat faced followthrough selling to Wednesday’s losses during the overnight session.
