Agriculture News
Corn and soybeans failed to hold earlier corrective gains late in overnight trade and are expected to open lower this morning.
Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.
Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend. Outside markets were price-negative, with crude oil weaker and the U.S. dollar sharply higher overnight.
As 2022 comes to a close, it’s time to look back on the events, stories and people that were most influential for agriculture over the past year.
Soybeans are expected to continue their recent price surge amid Argentine crop concerns.
Export sales data for week ended Dec. 22 reported wheat sales topping expectations by over 28,000 MT, while corn and soybean sales were mid-range.
Soybean futures continued their price surge overnight with front-month futures reaching their highest level on the continuation chart since Sept. 13. Corn and wheat traded in narrow ranges on either side of unchanged.
Big weekly gains in cash corn and winter wheat prices.
Choice boxed beef continues the strong year-end price rally.
Concerns with surging Covid cases in China triggered risk aversion in markets overnight, including grain and soy futures.
Soybeans built on Tuesday’s gains overnight but failed to get near yesterday’s highs. Corn and wheat futures held in tight trading ranges in thin trade.