Agriculture News
Weekly corn sales during the week ended Nov. 7 totaled 1.32 MMT, down 53% from the previous week, while soybeans declined 24% to 1.56 MMT.
Weekly corn, soybean and wheat inspections continue to outpace year-ago.
Corn posted mild gains overnight, soybeans faced price pressure for most of the session and wheat pivoted around unchanged.
Wheat futures are pulling corn lower as soybeans firm. Cattle futures are choppy as hog futures firm...
Soybean futures built on last week’s gains during overnight trade while wheat weakened and corn mildly favored the downside.
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USDA cut the soybean crop estimate and ending stocks more than expected.
USDA cut the soybean yield by 1.4 bu. per acre to 51.7 bu. per acre, while ending stocks were pegged at 470 million bu. Both were well below average pre-report estimates. Meanwhile, both corn yield and ending stocks were below average estimates.
Corn futures have firmed after light, two-sided trade overnight, while the soybean and wheat markets faced pressure for most of the session.
