Agriculture News
Corn and wheat futures firmed amid mild followthrough buying overnight, while soybeans pulled back a little.
Corn, soybean and wheat futures again held in tight trading ranges during the overnight session.
Soybean export inspections during week ended Oct. 12 rose over 600,000 MT from the previous week, notably exceeding pre-report estimates. Meanwhile, corn inspections fell short of the expected range.
Short-term trend flips from bearish to sideways for soymeal.
Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
Iowa has entered the legal fray by challenging a recently enacted Massachusetts law that prohibits the sale of pork not meeting specific hog-confinement standards, according to the Iowa Capital Dispatch.
Access this week’s newsletter here.
Weekly wheat sales reached a marketing-year high in week-ended Oct. 5, while soybean sales rose 31% on the week and were up 68% from the four-week average.
Corn, soybean and wheat futures are mildly firmer and near their overnight highs this morning as tensions in the Middle East intensify.
USDA cut its corn, soybean and cotton crop estimates more than anticipated, which resulted in lower-than-expected 2023-24 ending stocks.