Agriculture News
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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Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
For week ended Sept. 7, USDA reported weekly soybean sales of 703,900 MT, 34.2% behind a year ago at this time. Weekly meal and oil sales notched net reductions during the week of 201,600 MT and 3,900 MT, respectively.