Agriculture News
Corn, soybeans and wheat faced pressure overnight as markets reacted to tariffs levied against the leading U.S. trading partners.
The Jan. 1 U.S. cattle inventory was the smallest since 1951.
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Corn and soybeans extended Thursday’s corrective declines overnight, while wheat pulled back from gains earlier in the week.
Cash cattle prices jump to an all-time high for a fourth straight week.
The contracts are slated to start Feb. 24, pending regulatory approval
Soybean sales during the week ended Jan. 23 were down 71% from the previous week, missing analysts’ pre-report range. Corn and wheat sales were as expected
Corn and soybean futures pulled back from Wednesday’s strong gains overnight, while wheat pivoted around unchanged.
Corn basis firmed despite a strong rise in the average cash price.
Corn, soybeans and wheat built on Tuesday’s price gains during the overnight session.