Agriculture News
Soybean futures posted double-digit gains overnight, while corn and wheat traded modestly higher.
Corn, soybeans and wheat held in tight trading ranges during a quiet overnight session.
CCI ratings improved for both corn and soybeans in Illinois.
Corn inspections during the week ended Sept. 12 were down 318,180 MT from the previous week, while soybean inspections rose a modest 36,284 MT.
Wheat and corn futures are weaker with soybeans mildly higher. Cattle and hog futures are higher to start the week…
Wheat futures led overnight losses in the grain markets to open the week.
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Wheat futures firmed overnight amid global supply concerns and rising tensions in the Black Sea region, while corn and soybeans built on Thursday’s gains.
USDA unexpectedly raised its corn crop estimate, trimmed the soybean forecast.
USDA bumped the corn yield by 0.5 bu. per acre from its August estimate, while the soybean estimate was unchanged 53.2 bu. per acre.
While corn sales proved lackluster, net soybeans sales were notable at 1.47 MMT, though both corn and soybean sales are notably trailing the same period a year-ago.
Wheat futures led followthrough buying in the grain and soy markets during the overnight session.
Corn and soybean basis weakens as harvest starts.
Corn and soybean futures rebounded from Tuesday’s losses, while wheat showed followthrough price strength during the overnight session.
Soybean futures erased Monday’s strong gains during the overnight session, while corn mildly followed to the downside and wheat was choppy.
The increases halted a five-week slide for corn and a four-week decline for soybeans.
Corn, soybean wheat inspections each faded from the previous week, but were within the range of analysts’ pre-report expectations.
Soybeans are sharply higher with buyer interest limited in corn and wheat. Cattle futures are higher and lean hogs are choppy to lower…