Agriculture News
Wheat export sales were a marketing-year low. Corn and soybean sales were down sharply from the previous week but each topped 1 MMT.
Concerns about a new, heavily mutated variant of Covid-19 produced high anxiety among traders overnight, as global stock markets and oil prices plunged, while bonds surged (yields dropped) amid heavy risk-off trade.
Soybean export sales were within the range of pre-report estimates.
Grain and soy markets are trading higher and high-range this morning, led by HRW wheat contracts.
U.S. will release 50 million barrels of oil in a coordinated effort along with releases from strategic reserves by China, India, South Korea, Japan and Great Britain.
The SRW CCI rating is now below the five-year average for the first time this fall.
Wheat inspections were below expectations, while corn and soybean figures fell within the range of pre-report estimates.
Below, you’ll find an update to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Winter wheat futures surged to new contract highs overnight, while spring wheat sharply rebounded from last week’s losses amid tight global supplies of high-quality wheat.