Agriculture News
Soybean inspections topped expectations at more than 2.1 MMT.
HRS and HRW futures led the rebound from last Friday’s sharp losses as concerns with the new Omicrop strain of Covid eased.
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.