Agriculture News
Soybean basis dropped and remained weaker than average.
Corn, soybeans and wheat held in relatively tight trading ranges during a quite overnight session.
Corn, soybeans and wheat faced pressure earlier in the overnight session but have firmed and are trading near session highs.
Both the HRW and SRW crops posted notable improvements for the final crop condition report of the fall.
Weekly soybean inspections during the week ended Nov. 21 fell 164,413 MT from the previous week but were still notable at 2.1 MMT. Meanwhile, corn and wheat inspections each rose on the week.
Soybeans are higher with corn and wheat futures under pressure to start the week. Cattle futures are sharply higher and lean hog futures are mildly weaker...
Corn and wheat faced followthrough selling overnight, while the soybean market extended last Friday’s corrective gains.
All three categories came in on the negative side of the average pre-report estimates.
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Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
Monthly index surges erases sharp negative reading
USDA estimated 40% of the U.S. winter wheat crop was experiencing D1-D4 drought conditions, down 3 points from last week and one point less than last year at this time.
Net soybean sales during the week ended Nov. 14 rose 20% from the previous week and topped analysts’ expectations by 260,000 MT. Meanwhile, cotton sales during the week rose solidly to a marketing-year high.
Corn and wheat futures modestly built on Wednesday’s gains during overnight trade, while soybeans rebounded from losses.
Survey finds financial conditions weakest in crop areas
Corn and soybean basis firmed while cash prices dropped.
Corn, soybeans and wheat were pressured overnight by a stronger U.S. dollar and a lack of supportive news.
Corn and wheat futures mildly extended Monday’s gains during overnight trade, while soybeans failed to find sustained followthrough buying.