Agriculture News
Average cash hog price falls below $100 for the first time in six weeks.
Corn and soybean basis is stronger than the respective three-year averages.
Grain and soy markets are expected to open modestly firmer amid corrective buying.
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.
