Agriculture News
We expected a yawner from USDA this month and that’s exactly what it delivered, aside from wheat – and even that wasn’t a surprise.
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.
Corn, soybean and wheat futures opened firmer overnight, but are weaker and near their session lows this morning.
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Soybean futures extended their corrective gains from the two previous days overnight, which helped support corn. Wheat futures held in a tight range in narrowly mixed trade.
As of Nov. 30, 52% of U.S. winter wheat area was covered by drought conditions, up from 49% the previous week.
Wheat export sales were a marketing-year low. Corn and soybean sales were down sharply from the previous week but each topped 1 MMT.
Grain, soybean futures extended Wednesday’s corrective gains overnight.