Agriculture News
During the week ended Jan. 25, weekly wheat and soybean inspections were down from the previous week, while corn inspections rose 155,000 MT.
Short-term trend turns bullish for lean hog futures.
Corn, soybeans and wheat faced increased selling pressure during overnight price action and are trading near session lows this morning.
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Corn and soybeans faced followthrough selling overnight, while wheat retreated from recent gains.
That would still be the smallest annual increase in overall food prices since they rose 0.9% in 2017.
Weekly soybean sales during the week ended Jan. 18, missed the low-end pre-report estimate by 140,000 MT and were down 28% from the previous week.
Corn, soybeans and wheat held in tight ranges in light overnight price action.
Basis and cash prices firmed for corn and soybeans.
Cash corn and soybean prices rose for the first time in a month.
Corn, soybeans and wheat modestly extended recent corrective gains during the overnight session.
Corn, soybeans and wheat are mildly favoring the upside this morning after trading narrowly on either side of unchanged overnight.
During the week ended Jan. 18, weekly corn and soybean inspections dropped 233,127 MT and 117,068 MT, respectively, while wheat inspections rose 72,112 MT from the previous week’s totals.
Short-term trend turns bullish for cotton, remains bearish for corn, soybeans and wheat
Corn, soybeans and wheat traded on both sides of unchanged during the overnight session but are mostly weaker this morning.
All three categories virtually matched the average pre-report estimates.
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Senate Ag Chair Debbie Stabenow crafting crop insurance plan with tough choices for farmers.
USDA reported weekly export sales of 1.25 MMT during the weekend ended Jan. 11, exceeding the top end pre-report range by 50,000 MT, while wheat sales exceeded expectations by 200,000 MT.
Corn, soybeans and wheat modestly extended Thursday’s corrective gains during the overnight session.