Agriculture News
Corn, soybeans and wheat traded higher overnight amid light corrective buying ahead of USDA’s January crop reports later this morning and support from rising crude oil tied to increased Middle East tensions.
Short-term trend turns bullish for live cattle and feeders.
Grain futures posted two-sided trade overnight, though markets are mostly weaker this morning.
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Weekly corn, wheat and soybean sales each missed pre-report expectations for the week ended Dec. 28, while corn and soybean sales slid to a marketing-year low.
Corn and soybean futures mildly favored the downside in quiet, two-sided overnight trade, while wheat firmed.
Corn, soybeans and wheat traded in narrow ranges during a quiet overnight session.
The average cash soybean price dropped sharply over the past week.
Corn, soybeans and wheat faced mild followthrough selling overnight after heavy losses to open the new year on Tuesday.