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Corn sales during the week ended Jan. 30 totaled 1.48 MMT, rising 9% from the previous week and 32% from the four-week average.
Soybeans and wheat saw persistent buying pressure most of the overnight session while corn saw action on either side of unchanged.
Corn, soybeans and wheat traded on both sides of unchanged overnight but are mildly firmer early this morning.
Corn basis inched up as the average cash price slipped.
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Corn and wheat favored the upside overnight and made new highs, while soybeans faced profit-taking.
Corn and wheat futures mildly favored the upside overnight and are trading near session highs early this morning while soybeans have slipped a little.
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The barometer’s rise was primarily attributable to a 9-point rise in the Current Conditions Index amid a rise in commodity prices.
Soybeans and wheat saw profit-taking overnight following yesterday’s impressive gains, while corn traded on either side of unchanged.
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Corn, soybeans and wheat favored the downside overnight as traders closely monitored the fluid tariff/trade situation.
The HRW CCI rating has declined 9.5 points since the end of November, as all states except Montana showed deterioration.
During the week ended Jan. 30, soybean inspections rose 275,000 MT from the previous week, with both corn and soybean inspections ending near the upper-end of pre-report expectations.