Agriculture News
Soybean futures firmed overnight while the wheat market weakened. Corn was caught in the middle amid light, two-sided trade.
Soybean futures posted strong gains overnight on talk of big Chinese purchases, while corn and wheat followed to the upside.
Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.
Soybeans pulled back from recent strong gains amid corrective selling overnight, while corn and wheat also traded lower.
Both crops remain well above year-ago levels.
Weekly corn export inspections outpaced pre-report expectations by 135,000 MT, while wheat inspections missed by over 100,000 MT.
Short-term trend turns bullish for soybeans and lean hog futures.
Soybean futures posted strong gains overnight, which spilled over to corn, while wheat faced light selling pressure.
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Corn, soybeans and wheat held in relatively tight ranges while spending time on both side of unchanged during overnight trade.