Agriculture News
Corn and soybean futures were supported by light corrective buying overnight, while wheat futures posted mixed trade.
All three crops remain rated well above year-ago at this time.
Soybeans inspected for export during the week ended June 13 rose 100,000 MT from the previous week, while wheat inspections rose modestly. Meanwhile, corn inspections were notable, but fell 54,000 MT on the week.
Short-term trends turn bullish for cattle futures, bearish for wheat.
Soybeans and wheat posted sharp losses during the overnight session, while corn followed to the downside.
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Corn, soybeans and SRW wheat pulled back from yesterday’s gains during overnight trade, while HRW and HRS wheat extended their losses.
While falling short of pre-report expectations, both wheat and soymeal sales are running well ahead of year-ago. Meanwhile, soybean sales jumped 99% from the previous week and corn sales declined 11%.
Corn, soybeans and wheat traded on both sides of unchanged while holding in tight trading ranges overnight.