Agriculture News
Soybeans firmed on light corrective buying overnight, while the corn and wheat markets faced pressure.
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.
Access this week’s newsletter here.
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.
Areas expected to see both above-normal temps and below-normal precip have been reduced from previous forecasts.
Net corn sales for week ended Feb. 9 were down 12% from the previous week, but up 15% from the prior 4-week average, while Wheat and soybean sales were down 32% and 35% from their respective 4-week averages.
Corn and soybeans are expected to open mildly weaker, while wheat is likely to see a mixed tone.