Agriculture News
Corn, soybean and SRW wheat futures recouped a portion of Monday’s losses overnight. HRW and HRS futures firmed more than they lost yesterday.
Rains over the past week failed to improve the overall drought situation for the U.S. winter wheat crop.
Corn export sales were as expected, while old-crop soybean export sales topped expectations.
Wheat futures led price gains overnight amid active followthrough buying to yesterday’s strong gains. Corn and soybeans followed wheat higher.
Corn and soybean basis strengthens, but cash prices fall.
Trade was relatively light in the grain and soy markets for much of the overnight session, but buyer interest has picked up early this morning.
Corn futures are firmer, soybeans are weaker and wheat is mixed this morning following two-sided trade overnight.
The SRW CCI rating inched up but is still below average.
Bears took firm control of price action in the grain and soy markets amid risk aversion overnight as traders returned from the weekend.
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