Agriculture News
Soybeans led a round of heavy, broad-based selling across the grain and soy markets overnight amid favorable weather, along with heightened Chinese tensions and economic concerns.
USDA’s initial survey-based corn and soybean crop estimates will be based mostly on farmer surveys and satellite imagery.
Traders slashed bets the Fed cut interest rates by 75 basis points again in September following the bigger-than-expected slowdown in consumer inflation.
Corn, soybean and wheat futures were boosted by followthrough buying during overnight trade.
USDA’s cuts to crop condition ratings Monday afternoon fueled buying in grain and soy markets overnight.
The spring wheat CCI rating also declined from the previous week.
USDA’s annual survey finds strong gains in cropland, pasture and farm real estate values.
Corn export inspections fall well short of expectations.
Wheat futures led losses in the grain markets overnight, while corn and soybeans posted lesser declines.
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