Agriculture News
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.
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.
Access this week’s newsletter here.
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.
Cash corn prices above year-ago, soybean prices still below last year at this time.
Corn, soybeans and wheat mildly favored the downside overnight, but selling was limited and markets are trading high-range early this morning.
Corn and soybean basis weakens as cash prices rise.
Corn and soybeans pulled back from strong gains the two previous days during overnight trade, while wheat pivoted around unchanged in choppy trade.
Corn inspections during the week ended Jan. 16 totaled 1.54 MMT, exceeding pre-report expectations while wheat and soybeans fell short.
Corn, soybeans and wheat futures worked higher in early trade with cattle futures mixed and lean hogs under pressure...
Short-term trend now bullish for most grain and soy markets.