Agriculture News
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.
Corn, soybeans and wheat traded solidly higher overnight, led by double-digit gains in the soybean market.
All three categories were near the average pre-report estimates.
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Soybeans and wheat posted mild gains during the overnight session, while corn held near unchanged.
The Seasonal Drought Outlook calls for broad continuation or expansion of drought for most winter wheat areas.
Soybean sales notably topped pre-report expectations for the week ended Sept. 12, while wheat sales were short of analysts’ pre-report range.
Corn, soybeans and wheat briefly traded higher early in the overnight session but have weakened and are near their lows early this morning.
Corn basis dropped as harvest picked up but soybean basis firmed.