Agriculture News
Corn and soybean basis continues to fall as harvest activity increases.
Corn, soybeans and wheat posted mild corrective gains during a lightly traded overnight session.
Corn, soybean and wheat futures faced followthrough selling to Monday’s losses during overnight trade.
Illinois accounted for the bulk of the decline for both crops over the past week.
Weekly corn inspections totaled 642,095 MT, up 16,851 MT from the previous week and are running 10.5% ahead of year-ago, while soybean inspections totaled 393,004 MT and are trailing year-ago by 16.2%.
Short-term trend turns bearish for soybeans and soymeal.
Winter wheat futures led losses in the grain and soy markets during overnight trade.
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