Agriculture News
Grain and soy futures are expected to open with a weaker tone after price pressure overnight.
Corn and soybean futures pulled back from Tuesday’s gains during overnight trade, while the wheat market extended yesterday’s losses.
USDA reported soybean export inspections of 1.578 MMT for week ended Feb. 16, with inspections outpacing year-ago by 3.5%. Corn, soybeans and wheat inspections were each within their expected ranges.
Soybeans and soymeal will start daytime trade sharply higher on support from Argentine crop concerns.
Soybean and soymeal futures traded sharply higher coming out of the extended holiday weekend on Argentine crop concerns, while corn and wheat followed to the upside.
Survey finds 9% annual boost in farmland values but weaker values when compared to the prior quarter.
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Two-sided directionless trade is expected in the grain and soy markets to start daytime trade, though outside markets are price-negative.
Corn, soybeans and wheat traded in relatively narrow ranges during two-sided overnight price action.
Creighton University’s Monthly Index notes declines in economic indicators.