Agriculture News
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.
Soybeans and soymeal led price gains overnight after high-range closes on Tuesday. Corn and wheat followed to the upside.
Soybeans and soymeal led a pullback from Monday’s gains during the overnight session, while corn and wheat saw lighter price pressure.
Both crops remain well above last year’s levels.
Weekly soybean inspections in week ended Nov. 9 fell 516,368 MT from the previous week and were shy of the pre-report range of 1.75 to 2.25 MMT.
Soybean futures firmed overnight while the wheat market weakened. Corn was caught in the middle amid light, two-sided trade.