Agriculture News
The 2022-23 domestic balance sheets will reflect Sept. 1 stocks and the final 2022 wheat crop estimate, along with any changes to this year’s corn, soybean and cotton crop forecasts.
Wheat futures led a price surge in the grain and soy markets overnight as escalating war concerns sparked supply concerns from the Black Sea region.
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Corn, soybean and wheat futures regained a portion of Thursday’s losses amid corrective buying overnight.
The state of Mato Grosso moved one step closer to assuming control of the project to upgrade BR-163, the so-called “soybean highway” in Brazil.
Weekly export sales data for week ended Sept. 29 proved uninspiring with corn over 120K MT short of expectations, while wheat was slightly above. Soybeans landed on the low end of pre-report estimates.
Expansion of drought will add to low water levels and shipping disruptions along the Lower Mississippi and Oho river valleys.
Corn, soybean and winter wheat futures traded lower overnight as outside markets provided price pressure.