Agriculture News
Soybean stocks and wheat production came in higher than expected. Sept. 1 corn stocks were lower than anticipated.
USDA pegged Sept. 1 corn stocks at 1.361 billion bu., 68 million bu. lower than pre-report expectations and 16 million bu. lower than year-ago. Soybean stocks were above pre-report estimates by 26 mb.
Corn, soybean and wheat futures held in tight price ranges in a lightly traded overnight session ahead of USDA’s reports later this morning.
Farrowing intentions suggest the expansion could be short-lived, but surging litter sizes could offset lower farrowings as they did during summer.
USDA reported wheat sales in week ended Sept. 21 totaled 544,500 MT, which capped the top-end pre-report estimate by 45,000 MT. Meanwhile corn sales were mid-range; soybeans were nearer the low-end of expectations.
Corn and soybean futures pulled back from recent corrective gains, while wheat extended its price slide during overnight trade.
Cash corn prices stabilize; soybean prices continue to drop.
Corn and soybean futures firmed amid light corrective buying overnight. Wheat traded on both sides of unchanged overnight.
Corn futures held near unchanged, while soybeans and wheat posted mild gains during a quiet overnight session.
Illinois led the increase in condition ratings for both crops.
USDA reported inspections for corn, soybeans and wheat within trade expectations. Corn inspections remain steadily ahead of year-ago, while soybeans went from notably trailing year-ago to running ahead.
Corn, soybean and wheat futures held in tight trading ranges in light, two-sided trade overnight.
Feedlot inventories declined from year-ago for a 12th consecutive month.
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Grain and soy markets are expected to see light corrective buying.
Corn, soybean and wheat futures posted mild gains amid corrective buying in light overnight trade.
Above-normal October rainfall would hamper corn and soybean harvest, but benefit winter wheat.
Weekly soybean sales for week ended Sept. 14, were reported at 434,100 MT, short , over 100,000 MT shy of the low-end pre-report estimate, while weekly corn and wheat sales landed just above the low-end estimate.