Agriculture News
Grain and soy futures firmed amid corrective buying overnight, led by HRW wheat contracts.
CCI ratings for both crops are above year-ago, especially for HRW.
Corn inspections during the week ended April 4 were down 51,859 MT from the previous week but topped pre-report expectations. Wheat and soybean inspections also fell from the previous week but were as expected.
Corn favored the downside in light trade overnight, while soybeans and wheat had a mixed tone.
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Corn, soybeans and wheat have adopted firmer tones this morning, led by strong gains in SRW wheat, after two-sided trade overnight.
Corn and soybeans are expected to open under light pressure. Wheat is expected to be mixed, with SRW lower, while HRW and HRS futures are likely to open with a firmer tone.
Weekly soybean sales during the week ended March 28 missed the pre-report range, while corn sales landed below 1.0 MMT for the first time since mid-February. Shipments, however, reached a marketing-year high.
Corn, soybeans and wheat posted light, two-sided trade overnight but have adopted a slightly firmer tone this morning.
Corn basis firmed despite an uptick in the cash price but remains weaker than average.
Expectations for lower interest rates fueled the improved sentiment.
Corn, soybeans and wheat firmed amid mild corrective buying during overnight trade.
Corn, soybeans and wheat held in tight ranges during light, two-sided overnight trade.
SRW CCI rating was virtually unchanged over the winter.
Weekly corn and wheat inspections each topped pre-report estimates for the week ended March 28, while soybeans missed the low-end pre-report estimate by 86,000 MT.
Soybeans posted solid gains amid corrective buying overnight, while corn and wheat futures pulled back from last Thursday’s gains.
Nearly every category topped the average pre-report estimates.