Agriculture News
Corn, soybean and wheat futures extended their recent rallies overnight as traders returned from the extended Christmas holiday weekend.
Soybean futures extended Tuesday’s strong rally overnight, while old-crop corn futures finally topped the $6 level after nearly two months of trying to get above that psychological mark.
Cash soybean meal prices surge above $400 but are still slightly below year-ago.
Soybean basis slips but remains well above the three-year average.
The U.S. hog herd is expected to be 2.9% smaller than year-ago as of Dec. 1.
Price action in grain and soy futures was relatively quiet in two-sided trade overnight.
Soybean and wheat export inspections each declined mildly from week-ago.
Corn, soybean and wheat futures were unable to sustain initial strength overnight and are trading near session lows this morning as the overall marketplace adopted a general risk-off stance.
Creighton University’s RMI shows strong rural economy
Access this week’s newsletter here.