Agriculture News
Grain and soy futures are expected to open moderately to sharply higher on weather concerns and Black Sea tensions.
Corn, soybeans and wheat regained a portion of Tuesday’s losses during overnight trade.
Corn, soybeans and wheat are expected to open lower this morning after overnight price pressure.
Corn and soybeans traded lower overnight after USDA raised crop condition ratings more than anticipated Monday afternoon. Wheat faced followthrough selling amid a lack of supportive news.
The corn CCI is now above year-ago, while the soybean rating is virtually equal to last year at this time.
Weekly wheat inspections dropped by over 100,000 MT from the previous week and were over 90,000 MT short of the pre-report range. Meanwhile, corn and soybean inspections rose slightly from the previous week.
Soybeans are expected to open firmer, while corn and wheat are called lower.
Soybeans recouped Friday’s losses during overnight trade. Corn and wheat failed to sustain early buyer interest overnight and are lower this morning.
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Markets had a muted response to the data aside from a big jump in cotton.