Agriculture News
Beef stocks rose more than average during December, while pork stocks increased versus the normal small drawdown in inventories during the month.
USDA’s food price outlook data and forecasting methodology were revised this month.
Soybeans are expected to open weaker, with wheat firmer and corn near unchanged.
Corn and wheat futures were supported by followthrough buying overnight after strong gains on Tuesday, while the soybean market extended yesterday’s declines.
Grain and soybean futures are expected to trade higher amid corrective buying following Monday’s sharp losses.
Corn, soybean and wheat futures recouped a portion of Monday’s sharp price losses during the overnight session.
USDA’s weekly export inspections data for week ended Jan. 19 showed corn and wheat inspections toward their lower expected ranges, while soybeans landed near top-end expectations of 1.955 MMT.
Soybeans will lead grain and soy markets lower on pressure from beneficial rains across Argentina late last week and during the weekend.
Short-term trend turns bearish for live cattle and feeder cattle.