Agriculture News
USDA’s weekly export data for week ended Jan. 19 showed wheat sales up 6% from the previous week and 84% from the prior four-week average. Net soybean sales were up 53% from the four-week average, while corn was up 46%.
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.
Soybeans led overnight price declines amid improved weather in Argentina, while corn and wheat followed to the downside.
From an underlying standpoint, the data is bullish as feedlot supplies declined from year-ago for a fourth straight month.
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AgResource sampled fields across Mato Grosso, Brazil, this week, confirming “impressive crop potential” in the country’s top producing state.
Corn, wheat and soymeal export sales top expectations for the week ended Jan. 12, while soybeans landed in the mid to upper range of expectations.
Grain and soybean futures are expected to open with a mostly weaker tone this morning, though supportive export demand data could trigger buyer interest.