Agriculture News
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.
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.
Corn export inspections for week ended Dec. 22 were up on the week and short of the high end of expectations, while soybeans landed on the upper end of trade expectations, but trailed the previous week by 210,237 MT.
Short-term trend turns up for several markets, including corn, soyoil, SRW wheat and live cattle.
No overnight grain trade. Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend.
The Dec. 1 hog herd fell 1.8% from year-ago and was 210,000 head less than the average pre-report estimate implied.
The Dec. 1 feedlot inventory fell 2.6% from year-ago, the third straight month with a year-over-year decline.
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Corn, soybeans and wheat firmed after trading lower early in the overnight and are near their highs this morning.
Export sales data for week ended Dec. 15 showed soybeans falling short of expectations by 64,000 MT, with corn and wheat both low range. Cotton export sales reflected a nearly 90,000 RB net reduction for the week.