Latest News From Agriculture News

Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.

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Quarterly survey in ag bankers in Illinois, Indiana, Iowa, Wisconsin finds strong gains the farmland values.

Soybeans are higher this morning after there was limited followthrough selling from Thursday’s poor closes early in the overnight session. Corn and wheat are following soybeans higher.

Cash soybean prices continue to surge.

Kansas, Texas and Oklahoma reduced abnormally dry/drought areas

Wheat exports sales below trade expectations

Soybean futures continued their strong rally, with most old-crop contracts surging above $16 overnight. Corn and wheat followed soybeans higher.

Corn and soybean basis slipped, but cash prices surged.

Projected 2021-22 ending stocks for corn, soybeans, wheat and cotton all came in higher than the average pre-report estimates.

U.S. ending stocks down for beans, steady for corn, up for wheat and cotton

Old-crop soybean futures recouped Tuesday’s corrective losses overnight, while new-crop November futures pushed to a new contract high.

As of Dec. 31, Statistics Canada (StatsCan) estimated Canadian stocks of wheat, canola, barley, oats and soybeans were all well below year-ago levels.

Grain and soybean futures pulled back from Monday’s gains in corrective trade overnight on profit-taking and pressure from outside markets.

USDA will update its 2021-22 U.S. demand forecasts in the Feb. 9 Supply & Demand Report, though a bigger focus will be changes to the South American crop forecasts.

All three within trade expectations.

Short-term trend turns up for live cattle and feeder cattle.

Soybeans rallied sharply overnight, scoring new contract highs, amid South American weather concerns. Corn and wheat followed soybeans higher.

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There was broad, though relatively mild, price strength overnight across grain and soy futures amid support from outside markets.

Our updated monthly and quarterly price forecasts, including the first projections for the third quarter.

Kansas, Nebraska increases dry/drought area

Soymeal hits marketing-year high

Soybeans were pressured by profit-taking and corrective selling overnight, while the corn and wheat markets faced followthrough selling to Wednesday’s losses.

Soybean basis slipped only a penny as the cash price surged over $1 during the past week.

Soybeans posted new highs overnight, with the March contract topping $15.60 amid a continued price surge tied to South American crop losses and speculative buying. Corn and wheat modestly followed higher.

Wheat futures failed to find followthrough selling overnight after a bearish outside day down on Monday, which triggered light corrective buying. Corn also mildly rebounded overnight, while soybeans paused.

USDA estimates there were 91.9 million head of cattle in the U.S. as of Jan. 1, down 1.9 million head (2.0%) from year-ago and 762,000 head less than the average pre-report estimate implied.

All within expectations

Short-, intermediate and long-term trends are up for corn and soybeans.

Soybean futures posted another round of contract highs overnight, with the front-month contract reaching the highest level since June 2021 on the continuation chart. Corn and wheat followed soybeans higher.

USDA’s Cattle Inventory Report at 2 p.m. CT is expected to show the U.S. cattle herd as of Jan. 1 contracted 1.2% from year-ago.

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Old-crop soybean futures led price gains across the grain and soy complex and posted new contract highs overnight.

Cash soybean prices surged over the past week.

Dry/drought conditions in HRW get worse

Wheat, corn export sales above market expectations

Soybean futures pulled back early in overnight trade but have rebounded to post new contract highs this morning. Overnight price action was light and choppy in corn and wheat.

Corn basis firmed a penny over the past week as futures rose.

The wheat market faced profit-taking and corrective selling overnight following strong gains the first two days this week. Corn was pulled slightly lower by wheat, while soybeans favored the upside in two-sided trade.

Wheat futures found followthrough buying overnight amid heightened tensions with Russia and deteriorating U.S. winter wheat conditions, while the corn and soybean markets favored the downside in light, two-sided trade.

Individual state crop conditions ratings released on Monday showed further deterioration of the HRW wheat crop during January due to drought in the Plains.

It’s typical for frozen beef stocks to rise during December, though the increase was slightly greater than normal. It’s also normal for pork stocks to decline in December, though the drop was less than average.

Weekly corn, soybean and wheat inspections were all within the range of pre-report estimates.

Short-term price trend turns up for hog futures.

Wheat futures were supported by increased geopolitical tensions between Russia and Ukraine, while soybeans and corn were pressured by South American weather.

With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.

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Wheat and soybeans within expectations

Soybeans, corn and spring wheat pulled back from Thursday’s gains overnight, while winter wheat futures extended yesterday’s losses.