Agriculture News
Corn and soybean futures mildly favored the upside in light trade overnight, while wheat posted modest losses.
The Current Conditions Index fell 10.7% in August, while the Future Expectations Index declined 4.0%. The overall ag barometer was 1.7% lower than August 2022.
Corn and soybeans are expected to open with a weaker tone coming out of the holiday weekend, while wheat is likely to be mixed.
Corn, soybeans and wheat held in relatively tight ranges in two-sided trade overnight.
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Grain and soy futures are expected to open with a firmer tone to start the new month after corrective gains overnight.
The new month kicked off with corrective price gains in the grain markets overnight, led by soybeans.
Cash soybean prices mildly firmed while corn and wheat values dropped over the past week.
The overall drought footprint across the U.S. was unchanged, but corn, soybean and cotton areas worsened.
Corn is expected to open modestly higher on light corrective buying, while soybeans and wheat are likely to face price pressure.