Agriculture News
Soybean basis firmed despite the rollover to the January contract, which is around 13 cents above November.
USDA Secretary Tom Vilsack joins Chip Flory and Jim Wiesemeyer to discuss the updated Build Back Better framework and what it means for U.S. agriculture, including money invested for biofuels and conservation.
Corn and soybeans modestly extended this week’s price gains overnight but didn’t take out Thursday’s highs.
The U.S. Drought Monitor shows much of HRW areas are covered by dryness/drought, while virtually no abnormally dry conditions and no drought are noted across the SRW states
Soybean export sales slowed dramatically from the previous week but weekly shipments increased.
No clear price tone developed overnight as grain and soy futures held in tight trading ranges.
Corn and soybean basis firms seasonally as harvest pressure eases.
Commodity markets faced pressure overnight on renewed macroeconomic concerns amid new Covid outbreaks in China with grain and soy futures pressured by the broad-based selling.
Both the present situation index and the expectations index surprisingly rose this month.
HRW rating is 8.5 points below average, while the SRW rating is 4.4 points above normal.