Agriculture News
Beef stocks declined in February, though more than average. Pork stocks rose last month, though less than normal.
Grain and soy complex futures are expected to open solidly lower on followthrough selling after bears controlled overnight trade.
Bears controlled price action overnight, with corn, soybean and wheat futures trading solidly lower and near their session lows this morning.
Corn, soybeans and wheat finished higher and near their session highs overnight, which should fuel followthrough buying this morning.
Light corrective buying has surfaced in some of the grain and soy futures early this morning after they faced pressure for much of overnight trade.
Corn, soybeans and wheat export inspections each topped the previous week, though soybean Inspections continue to run ahead of last year by nearly 3.0%, while corn lags by over 36.0%, with wheat behind by 1.6%.
Unease with the global economy tied to the banking sector will weigh on grain and soy futures.
Short-term trends turn bearish for soybeans and lean hog futures.
Bears controlled price action in the grain and soy markets overnight amid ongoing macroeconomic unease.
Access this week’s newsletter here...