Agriculture News
USDA’s October production and carryover figures were lower than pre-report estimates, though the most notable miss was the 4 MMT difference in new-crop global soybean carryover vs. expectations.
Corn, soybeans and wheat firmed overnight on support from crude oil as it responded to a major geopolitical shock over the weekend when Hamas raided Israel.
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Corn, soybeans and wheat spent time on both sides of unchanged while holding in tight trading ranges overnight.
USDA reported weekly corn sales of 1.8 MMT during week ended Sept. 28, increasing export commitments to nearly 9% ahead of last year.
Corn and soybeans faced fresh selling pressure during overnight trade, while wheat firmed amid light corrective buying.
Semi-annual survey of land professionals finds flattening in Iowa land values.
Basis remains much weaker than normal for corn, soybeans and wheat amid weak demand and transportation woes.
Soybean futures firmed amid corrective buying overnight, while wheat declined and corn chopped around unchanged.
Farmers’ sentiment for the second month in a row as attitudes toward current conditions and future expectations declined.