Agriculture News
Corn, wheat and soymeal export sales top expectations for the week ended Jan. 12, while soybeans landed in the mid to upper range of expectations.
Corn, soybean and wheat futures showed mild followthrough selling during most of the overnight session, but price action has turned narrowly mixed early this morning.
Corn and soybean basis declines amid big jump in cash prices.
Corn and soybeans are expected to face profit-taking at the start of daytime trade, though supportive outside markets should limit selling.
Corn, soybean and wheat futures built on their strong finishes Tuesday during the overnight session.
Corn and soybean export inspections were well above the previous week, topping pre-report expectations by nearly 75,000 MT and 150,000 MT, respectively. Wheat inspections were near top-end estimates of 400,000 MT.
Grain and soybean futures are called lower this morning after price pressure during overnight trade.
Grain markets traded solidly lower overnight, with wheat and soybeans leading price declines.
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Soybeans faced light profit-taking pressure at the end of the overnight session, which is likely to spill over into the start of daytime trade.