Agriculture News
Corn, soybeans and wheat firmed after trading lower early in the overnight and are near their highs this morning.
Corn and soybean futures faced pressure overnight after weekend rains fell on some dry areas of South America, while wheat showed a mixed tone.
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Corn and soybeans are weaker this morning after two-sided price action overnight, while wheat futures are mostly firmer.
Big weekly gains in cash grain and soybean prices.
Rural Mainstreet Index registers sight decline in optimism on farmland and ag equipment.
Weekly export data for week ended Dec. 8 showed corn topping expectations by nearly 60,000 MT, with wheat nearly 120,000 MT above the top-end range. Soybean export sales breached the top-end range by 943,000 MT.
The National Weather Service (NWS) 90-day forecast continues to call for increased chances of below-normal precip across most of HRW wheat areas during the January through March period.
As of Dec. 13, 78% of the U.S. was experiencing abnormal dryness/drought, according to the U.S. Drought Monitor, seven points below the peak at the beginning of November.
Corn, soybean and wheat futures traded within narrow ranges in quiet, two-sided price action overnight.
Basis remains above average for both corn and soybeans.