Agriculture News
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.
Soybean export inspections were down nearly 360,000 MT from the previous week, but were near the top-end range of pre-report estimates. Soybean inspections are running currently running 1.6% ahead of a year ago.
Corn and wheat are expected to open under mild pressure, while soybeans are likely to be mostly weaker this morning.
Soybeans are firmer this morning, while corn and wheat are weaker following two-sided trade overnight.
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The firmer tone from overnight is expected to carry over to daytime trade.
Corn and wheat futures posted corrective gains overnight, while soybeans also traded higher despite weakness in soymeal.
Chicago Federal Reserve says Midwest farmland values rose 12%
Soybeans are expected to open with a firmer tone. Corn and wheat are expected to open mixed.
Export sales data for week ended Feb. 2 showed net cotton sales of 262,800 RB, which was up 54% from the previous week and 58% from the prior 4-week average.