Agriculture News
Overnight trade was light and two-sided, though buyer interest is building with grain and soy markets trading near session highs this morning.
The national average corn basis turned negative for the first time since mid-April.
Corrective buying was seen in the grain and soy complex overnight as the U.S. dollar pulled back and crude oil firmed.
CCI ratings have dropped 11 consecutive weeks for corn and eight straight for soybeans.
Weekly grain inspected for export through Sept. 22, proved dismal as corn and soybean inspections were reported below expectations, while wheat inspections were notably lower for the week but within the expected range.
No changes to short-, intermediate or long-term trends this week.
Outside markets and global economic concerns weighed on grain and soy markets overnight.
Both placements and marketings were near the top end of pre-report estimates.
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Outside markets weighed heavily on the grain and soy complex overnight as the U.S. dollar strengthened to a fresh 20-year high and front-month crude oil dropped to near $80.00.