Agriculture News
Uncertainties included difficulties estimating the state of financial markets, potential oil price shocks and the impact of labor union strikes on the economy, among other factors.
Corn, soybeans and wheat held in tight trading ranges during a quiet two-sided overnight session.
USDA reported weekly soybean inspections of 1.04 MMT, notably above the pre-report range.
Corn and soybeans extended Monday’s losses during overnight trade, while wheat more than wiped out yesterday’s gains.
Corn, soybeans and wheat firmed overnight on support from crude oil as it responded to a major geopolitical shock over the weekend when Hamas raided Israel.
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Corn, soybeans and wheat spent time on both sides of unchanged while holding in tight trading ranges overnight.
USDA reported weekly corn sales of 1.8 MMT during week ended Sept. 28, increasing export commitments to nearly 9% ahead of last year.