Agriculture News
Individual state crop conditions ratings released on Monday showed major deterioration of the HRW wheat crop during December.
Soybeans and corn are trading lower and near session lows this morning, while wheat futures are mostly weaker.
Corn, soybean and wheat futures are trading near session lows this morning as markets extend Tuesday’s weaker (and low-range) closes.
A slow weakening of the La Nina weather pattern is expected in January, but its influence on South American weather will likely continue without much change into at least mid-January.
Soybean basis slipped again, but remains well above the three-year average.
March soybean futures reached the highest level overnight since mid-July, as the strong rally was extended.
wheat inspections mildly increased but remain slow.
Corn, soybean and wheat futures extended their recent rallies overnight as traders returned from the extended Christmas holiday weekend.
USDA estimates the U.S. hog herd at 74.201 million head as of Dec. 1, down 3.111 million head (4.0%) from last year.