Agriculture News
We expect widely varied trade in the grain and soy markets this morning amid pressure from weather and support from escalating tensions in the Black Sea region.
Short-term trends turn bearish for corn, soybeans and wheat.
Soybean futures were pressured overnight by weekend rainfall across the Corn Belt, while wheat rallied amid mounting tensions in the Black Sea. Corn was caught in the middle and traded on both sides of unchanged.
USDA’s annual survey finds 8.1% gain in average cropland values
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Grain and soy futures are expected to open solidly higher amid increased geopolitical tensions.
Corn, soybeans and wheat traded sharply higher overnight amid rising geopolitical tensions after Ukraine attacked a major Russian Black Sea port.
Our monthly and quarterly price forecasts, including the first projections for the first quarter of 2024.
Soybeans are expected to see modest corrective buying amid strong new-crop export sales. Corn and wheat are expected to trade mostly lower.
Old-crop weekly soybean sales faded on the week, while new-crop sales rose steadily amid a recent uptick in purchases. Meanwhile, old-crop corn sales were shy of the pre-report range, while wheat sales rose notably.