Agriculture News
Grain and soy complex futures are expected to open solidly lower on followthrough selling after bears controlled overnight trade.
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Grain and soy futures are expected to open higher. There was another daily corn sale to China.
Corn, soybeans and wheat were supported by corrective buying and outside markets overnight.
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U.S. government forecasters signal La Niña has ended, but the extended weather forecast from the National Weather Service continues to indicate La Niña-like weather will persist through June.
Corn should be supported by strong weekly export sales and another daily sale to China.
USDA reported weekly corn sales of 1.236 MMT for week ended March 9, near the top-end of the pre-report range. Soybean sales were also near top-end estimates at 665,000 MT, up from net reductions the previous week.
Corn futures pivoted around unchanged in quiet overnight trade while soybeans were supported by corrective buying and wheat pulled back from gains earlier this week.
Soybean basis dropped but the average cash price remained above $15.