Agriculture News
Corn, soybean and wheat futures are mildly weaker this morning as a quietly traded overnight session winds down.
Big jumps in weekly cash prices for corn and soybeans.
All three were within the range of pre-report expectations but up sharply from the previous week.
Two-sided trade was seen in the grain and soy markets overnight, but futures are weaker and near session lows this morning.
Basis for corn and soybeans slipped over the past week but remains positive to futures.
Soybean and soyoil futures faced active followthrough selling overnight, which pulled the rest of the grain and soy markets lower.
The proposed reductions are due to Covid impacts on fuel demand. EPA proposes returning to statutory mandated levels in 2022.
With no updates to the corn and soybean crop estimates this month, focus will be on changes to demand projections for 2021-22.
Corn, soybean and wheat futures traded both sides of unchanged in narrow overnight ranges.
Soybean inspections slipped modestly from the previous week.
Corn soybean and wheat futures opened firmer overnight but have faded and continue to soften to start the week. Live and feeder cattle futures are mildly lower as lean hog futures fall sharply.