Agriculture News
Soybean futures firmed amid corrective buying overnight, while wheat declined and corn chopped around unchanged.
USDA pegged Sept. 1 corn stocks at 1.361 billion bu., 68 million bu. lower than pre-report expectations and 16 million bu. lower than year-ago. Soybean stocks were above pre-report estimates by 26 mb.
Corn, soybean and wheat futures held in tight price ranges in a lightly traded overnight session ahead of USDA’s reports later this morning.
Farrowing intentions suggest the expansion could be short-lived, but surging litter sizes could offset lower farrowings as they did during summer.
USDA reported wheat sales in week ended Sept. 21 totaled 544,500 MT, which capped the top-end pre-report estimate by 45,000 MT. Meanwhile corn sales were mid-range; soybeans were nearer the low-end of expectations.
Corn and soybean futures pulled back from recent corrective gains, while wheat extended its price slide during overnight trade.
Cash corn prices stabilize; soybean prices continue to drop.
Corn and soybean futures firmed amid light corrective buying overnight. Wheat traded on both sides of unchanged overnight.
Corn futures held near unchanged, while soybeans and wheat posted mild gains during a quiet overnight session.
Illinois led the increase in condition ratings for both crops.