Agriculture News
Weekly export sales for week ended Dec. 29 revealed mild wheat sales, missing low-end expectations by nearly 153,000 MT. Corn sales were also shy by 81,000 MT and soybeans landed on the low range.
Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.
Soybeans were supported by corrective buying overnight, while corn and wheat faced followthrough selling.
Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.
The Purdue University/CME Group Ag Economy Barometer rallied sharply in December to the highest reading for 2022.
Short-term trends are bullish for grain and soy futures.
Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.
Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend. Outside markets were price-negative, with crude oil weaker and the U.S. dollar sharply higher overnight.
As 2022 comes to a close, it’s time to look back on the events, stories and people that were most influential for agriculture over the past year.
Soybeans are expected to continue their recent price surge amid Argentine crop concerns.
Export sales data for week ended Dec. 22 reported wheat sales topping expectations by over 28,000 MT, while corn and soybean sales were mid-range.