Agriculture News
Sept. 1 corn, soybean ending stocks lower than expected.
Sept. 1 corn stocks of 1.760 billion bu. were short of analysts’ average pre-report estimate by 84 million bu., while soybean stocks of 342 million bu. were shy 9 million bu. Wheat stocks and production were each slightly above pre-report estimates.
Weekly soybean inspections during the week ended Sept. 26 totaled 675,749 MT, up 177,000 MT from the previous week, while corn and wheat inspections each declined on the week.
Corn and soybean futures are lower with wheat futures higher to start the week. Cattle futures are choppy with lean hogs slightly firmer...
Corn and soybeans are expected to open weaker, with wheat likely to see a firmer tone.
Short-term trend turns bullish for corn and the soy complex.
Wheat futures rebounded from Friday’s losses during the overnight session, while corn and soybeans pulled back from their gains at the end of last week.
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Soybeans and corn traded on either side of unchanged overnight, but are weaker early this morning, while wheat faced mild followthrough selling throughout the session.
Most of the Hogs & Pigs Report data was neutral, aside from hefty late-year market hog inventories.
Soybeans and wheat extended Wednesday’s gains during the overnight session, while corn struggled to find buyer interest.
Soybean basis drops on cash price improvement
Selling pressure built in the grain markets overnight, with soybeans leading losses early this morning.
Soybeans rebounded from earlier weakness to trade higher early this morning, while corn and wheat are choppy.
Both crops remain rated well above year-ago
Weekly corn inspections during the week ended Sept. 19 totaled 1.1 MMT, up 534,000 MT from the previous week while wheat inspections of 711,000 MT rose 122,000 MT.
Corn, soybeans and wheat are off to a solid start. Livestock futures are mostly higher as well…
Short-term trend turns bullish for cattle futures.