Agriculture News
Winter wheat markets and corn futures are mildly favoring the downside after two-sided trade overnight, while soybeans and spring wheat are mixed.
Wheat futures are under sharp pressure to open the week, which is weighing on corn. Soybeans are mildly supported by export sales to China.
Heavy pressure on the wheat market pulled corn lower overnight, while soybeans posted two-sided trade.
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Corn, soybean and wheat futures extended price losses from earlier in the week duringovernight trade.
Monthly Rural Mainstreet Index in growth negative range.
There was a major expansion of drought across the Northern Plains, while drought conditions intensified in the Central Plains.
Hot, dry conditions during fall should facilitate rapid harvest of corn and soybeans but is concerning for the HRW crop that’s being planted into dry soils.
Weekly export data for week ended Sep. 8 reported soybean export sales have had a considerable start to the marketing year; ahead of last year’s pace, while corn lags by 50%.