Agriculture News
Net soybean sales during the week ended March 13 totaled 352,600 MT, down 53% from the previous week and 29% from the four-week average, missing analysts’ pre-report expectations. Wheat sales marked net reductions, while corn sales were as expected.
Wheat and soybean sales during the week ended March 6 were each above analysts pre-report range. Corn sales rose on the week, while exports reached a marketing-year high.
Trade worries continue to limit buyer interest.
Basis for both markets remains below average.
Corn, soybeans and wheat declined overnight amid risk aversion.
USDA didn’t change corn, soybean or cotton ending stocks. Projected wheat carryover was increased.
Corn and soybean ending stocks were unchanged from February, while wheat ending stocks increased more than expected.
Corn and soybeans favored the upside overnight, while wheat was mildly weaker.
Updates to the 2024-25 balance sheets will consider trade policies currently in place at the time of publication.
The initial broadcast of our weekly podcast looking at the week ahead and key factors impacting ag markets.
Weekly corn inspection for the week ended March 6 rose 467,000 MT from the previous week, exceeding analysts’ pre-report range.