Agriculture News
USDA’s weekly export inspections proved steady for corn, soybeans and wheat for week ended August 18. Corn and wheat inspections were notably higher over the previous week, while soybeans fell behind.
Corn and soybean basis continues to slip ahead of harvest, but remains well above average.
Corn, soybeans and wheat posted two-sided trade overnight but are mildly firmer this morning amid light corrective buying.
Corn, soybean and wheat futures extended yesterday’s losses overnight but all three markets held above Monday’s lows.
The corn CCI rating has dropped for five straight weeks.
Export Inspections for week ended August 11, 2022 were within trade expectations, but well below last week’s figures. Corn, Soybeans, and wheat continue to fall behind year-ago levels.
Short-term trend turns up for corn, soymeal and cotton.
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.
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The initial corn crop estimate came in slightly lower than anticipated.
After two-sided trade earlier overnight, a weaker tone has developed in the grain and soy markets this morning, led lower by wheat.