Agriculture News
Corn sales during the week ended Oct. 31 totaled 2.77 MMT, according to USDA, which rose 18% from the previous week and four-week average. Net sales notably outpaced analysts’ expectations. Weekly soybean sales were reported at 2.04 MMT.
Short-term trend turns bullish for oats and soyoil.
Soybeans posted double-digit gains overnight while corn followed to the upside. Wheat is narrowly mixed this morning after gains earlier during overnight trade.
Access this week’s newsletter here.
Soybeans extended corrective gains from the two previous days during overnight trade while corn and wheat also firmed.
Rains across the central U.S. this week should help but more will be needed.
Corn sales during the week ended Oct. 24 declined 35% from the previous week to 2.34 MMT, while wheat sales dropped 23%. Meanwhile, soybean sales rose modestly on the week to 2.27 MMT.
Soybeans extended Wednesday’s gains overnight, while corn and wheat futures weakened.
Soybean basis is slightly weaker than average.
Soybeans are firmer early this morning, while corn and wheat have weakened after two-sided trade overnight.