Agriculture News
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.
Grain and soy futures are expected to open weaker after failing to sustain Wednesday’s corrective gains overnight.
Corn, soybean and wheat futures were unable to build on Wednesday’s strong gains and faced pressure overnight.
Wheat basis firmed along with a rise in cash prices.
JPMorgan Chase & Co could process another 40 Russian grain export payments, two sources told Reuters.
A shift in farmers’ expectations regarding the Fed’s future interest rate policy was a key factor in the improved sentiment.
Wheat futures rebounded late in the overnight session, which should trigger followthrough corrective buying early this morning. Corn and soybeans are called lower.
Corn, soybean and wheat futures faced followthrough selling during overnight trade.
Mato Grosso grain storage deficit could reach 64 MMT...
Soybeans extended gains from the past two days during overnight trade, while corn and wheat firmed amid mild corrective buying.
While the wheat crops in Oklahoma, Colorado and Montana showed modest improvement, the other states declined.