Agriculture News
Selling pressure mounted during the overnight session, with corn, soybeans and wheat trading near session lows early this morning.
Grain and soybean futures open the week mildly higher on light corrective buying.
Short-term trend turns bearish for corn and soybeans.
Corn, soybeans and wheat mildly rebounded overnight from poor closes last Friday.
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Corn sales during the week ended Oct 10, rose 82% from the previous week and noticeably from the four-week average. Soybean sales were also notable at 1.70 MMT, rising 35% on the week.
Corn and soybean futures mildly extended Thursday’s corrective gains during overnight trade, while wheat pivoted around unchanged.
Sharp drop in weekly cash corn and soybean prices as harvest remains rapid.
ENSO-neutral conditions remain in place, but CPC signals there are 60% odds a weak La Niña event will develop by the end of November and persist through winter.