Agriculture News
After two-sided trade earlier overnight, a weaker tone has developed in the grain and soy markets this morning, led lower by wheat.
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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Grain and soybean futures are expected to open lower amid a favorable near-term weather forecast and outside market factors.
After failing to find sustained followthrough from Thursday’s gains early in the overnight session, corn, soybean and wheat futures faded.
Our updated monthly and quarterly forecasts, including the first outlook for first quarter 2023.