Agriculture News
The mostly firmer tone overnight is expected to carry over to daytime trade as traders await USDA’s reports later this morning.
Mixed trade is expected in the grain and soy markets this morning as traders monitor the U.S./China situation and prepare for USDA’s February crop reports on Wednesday.
Short-term trend turns bullish for live cattle and feeder cattle.
Corn and soybean futures are weaker this morning after two-sided trade earlier in the overnight session, while wheat futures are narrowly mixed.
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Grain and soy futures traded lower overnight, with late pressure from a surge in the U.S. dollar after the much stronger-than-expected January jobs data. We expect the weaker tone to continue early this morning.
Soybeans extended Thursday’s gains in overnight trade, while the corn and wheat markets faced pressure.
Our updated monthly and quarterly price forecasts, including the initial look at the third quarter.
Corn, soybeans and wheat are expected to open higher. Weekly sales were strong for corn, at the lower end of expectations for soybeans and poor for wheat.