Powell Confirmed to Lead the Fed | May 13, 2022

Corrective buying was seen in the grain and soy complex overnight as the U.S. dollar pulled back and crude oil firmed.

CCI ratings have dropped 11 consecutive weeks for corn and eight straight for soybeans.

Corn futures drop near four-week low, soybeans near three-week low as surging dollar, recession worries pressure commodities.

Weekly grain inspected for export through Sept. 22, proved dismal as corn and soybean inspections were reported below expectations, while wheat inspections were notably lower for the week but within the expected range.

Grain and soy futures traded lower overnight on global economic concerns although soybeans recovered slightly on the open. Cattle futures are mildly higher with lean hogs under pressure to start the week.

Soybean futures drop to two-week lows, corn and wheat also lower on intensifying recession worries.