Agriculture News
Followthrough pressure from heavy selling in grain and soy futures late in the overnight session amid renewed hopes of Russia/Ukraine peace talks. Livestock markets expected to open lower, too.
Grain and soy futures will face heavy pressure this morning. Cattle futures are also expected to trade lower, while hogs may see followthrough strength on the open.
Wheat futures led overnight price declines. Despite the heavy pressure, wheat and corn futures remained within their recent sideways trading ranges, while soybeans stayed within their choppy to higher range.
USDA expects 2022 food prices to increase 4.5% to 5.5%
March 1 feedlot inventory was the largest ever for the month and 31,000 head more than traders anticipated.
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Grain and soybean futures mildly extended Thursday’s losses in relatively quiet overnight trade.
Diesel prices ease a little but they are still nearly $2 above year-ago.
