Agriculture News
During the week ended Feb. 6, weekly wheat inspections rose 283,000 MT from the previous week. Meanwhile, corn and soybean inspections were both near the upper end of pre-report expectations.
Corn basis inched up as the average cash price slipped.
Corn and wheat futures mildly favored the upside overnight and are trading near session highs early this morning while soybeans have slipped a little.
The barometer’s rise was primarily attributable to a 9-point rise in the Current Conditions Index amid a rise in commodity prices.
Corn, soybeans and wheat favored the downside overnight as traders closely monitored the fluid tariff/trade situation.
The HRW CCI rating has declined 9.5 points since the end of November, as all states except Montana showed deterioration.
During the week ended Jan. 30, soybean inspections rose 275,000 MT from the previous week, with both corn and soybean inspections ending near the upper-end of pre-report expectations.
Both sides will continue to work on trade and border security.
Corn and wheat are under pressure with soybeans mostly firmer to start the week. Cattle and lean hog futures are lower...
Corn, soybeans and wheat faced pressure overnight as markets reacted to tariffs levied against the leading U.S. trading partners.