Agriculture News
After facing followthrough selling earlier in the overnight session, corn, soybeans and wheat are modestly firmer and trading near session highs this morning.
Weekly wheat inspections during the week ended Jan. 23 rose 223,000 MT, topping pre-report expectations, while soybean inspections missed pre-report expectations, falling 250,000 MT from the previous week. Corn inspections declined 295,000 MT.
Corn, soybeans and wheat opened the week under pressure. Livestock futures are higher...
Placements dropped 3.3% from year-ago and fell below the bottom end of pre-report expectations.
Beef stocks rose less than normal, while pork inventories increased more than average.
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Corn sales during the week ended Jan. 16 rose 62% from the previous week, while soybean sales were more than double. Meanwhile, wheat sales slid 68%, missing pre-report expectations.
Corn, soybeans and wheat faced price pressure overnight in reaction to Argentina cutting grain and soy export taxes through midyear.
