Agriculture News
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.
Corn, soybeans and SRW wheat faced light followthrough selling during overnight trade, while HRW and HRS wheat mildly rebounded.
Farm diesel price falls to the lowest in nearly a year.
Cash hog prices firmed again this week as the seasonal rally is gradually underway.
We expect price pressure seen in corn, soybeans and winter wheat to carry over to the start of daytime trade.