Agriculture News
Corn and soybean basis continues to rebound from the harvest lows.
No overnight trade in the grain markets. Grain and livestock markets open at 8:30 a.m. CT and close at 12:05 p.m. CT.
Soybean export sales cooled off for week ended Nov. 17 after the previous week’s large 3 MMT figure. Corn export sales land at over 1.8 MMT, still on the low-end of expectations, with wheat short of top-end by 88 MT.
Big weekly declines in ethanol, DDG prices in Iowa.
Corn and soybean futures favored the upside in overnight trade while wheat futures traded mostly lower.
The HRW CCI rating remains far below average. SRW rating is slightly below average.
Corn, soybean and wheat futures held in tight trading ranges while swinging to both side of unchanged during the overnight session.
Export inspections for week ended Nov. 17 revealed soybeans and wheat near top-end expectations, while corn landed mid-range.
Short-term trend turns bullish for live cattle and lean hog futures.
Corn, soybean and wheat futures faced pressure overnight from Chinese Covid concerns and outside markets.