Agriculture News
Corn, soybeans and wheat are expected to open lower this morning after losses overnight and disappointing export data, especially for soybeans.
Updated crop estimates from Dr. Michael Cordonnier.
Corn, soybean and winter wheat futures faced pressure overnight, while spring wheat traded mildly higher.
Top producer Kansas led the HRW decline, falling nearly 3.6 points over the past week.
Weekly corn inspections fall short of pre-report estimates, while corn and wheat inspections land near the lower-end of their respective ranges.
Soybeans and wheat are expected to trade solidly higher after active followthrough buying overnight. Corn futures are called mixed, but should be helped by spillover from soybeans and wheat, along with outside markets.
Soybeans and wheat extended last week’s gains amid followthrough buying during overnight trade, while corn posted two-sided trade.
“Packers are scrambling,” Derrell Peel, an Oklahoma State University agricultural economist, told Reuters.
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Corn, soybean and wheat futures are expected to open higher amid corrective buying.