Agriculture News
Corn, soybean and wheat weekly export inspections during the week ended Feb. 29 each fell from the previous week, though all were within pre-report expectations.
Corn and soybeans traded higher amid corrective buying overnight, while the winter wheat markets favored the downside and spring wheat was mixed.
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Soybean futures posted corrective gains overnight, while the corn and wheat markets favored the downside in light trade.
Weekly cotton sales during the week ended Feb. 22 were down 69% from the previous week and 83% from the four-week average. Meanwhile, corn, soybean and wheat sales each rose week-over-week.
Corn and soybeans favored the downside and are near session lows this morning, while wheat is mostly weaker.
Basis firms for both corn and soybeans but remains slightly below average.
Corn and soybeans are trading near unchanged this morning after light two-sided trade overnight, while wheat futures have weakened.
HRW crop continues to rebound from a rough start last fall.
Soybeans firmed amid followthrough buying overnight, while corn and wheat mildly favored the upside is light trade.
Weekly corn inspections during the week ended Feb. 22 totaled 1.242 MMT, exceeding the pre-report range by over 91,000 MT and rose nearly 190,000 MT from the previous week.
No changes to the short-term chart trends this week.
Corn, soybeans and wheat traded lower overnight, with nearby corn and soybeans falling to new contract lows.
Placements declined from year-ago levels for a third straight month – a trend that will continue.
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Net soybean sales during the week ended Feb. 15 were down 84% from the previous week, while weekly corn and wheat sales were down 37% and 33%, respectively.
Corn, soybeans and wheat firmed amid corrective buying during the overnight session.
Wheat futures led a round of corrective buying in the grain markets during overnight trade.