Agriculture News
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%.
Corn and soybeans mildly rebounded overnight from losses the two previous days, while wheat pulled back from recent gains.
Corn and soybean basis continues seasonal decline as harvest increases.