Agriculture News
Although soybean export inspections were down over 100,00 MT from the previous week, they continue to prove consistent. Wheat inspections topped pre-report expectations, while corn landed just above the low-end estimate.
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.