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USDA nominee Rollins gets good reviews following confirmation hearing
Corn, soybeans and wheat each opened lower overnight on reports that Argentina is cutting export taxes.
Corn sales during the week ended Jan. 16 rose 62% from the previous week, while soybean sales were more than double. Meanwhile, wheat sales slid 68%, missing pre-report expectations.
Corn, soybeans and wheat faced price pressure overnight in reaction to Argentina cutting grain and soy export taxes through midyear.
Cash corn prices above year-ago, soybean prices still below last year at this time.
President again talks of Feb. 1 tariffs on Canada and Mexico, blasts EU policy
USDA Secretary nominee is committed to supporting farmers in case of tariff-related harm; Talks about Prop 12; Will ‘defend, honor, and elevate our entire ag community’
Farm-state lawmakers to focus on USDA Secretary nominee Rollins’ ethanol position
Corn and soybeans traded on either side of unchanged overnight though favored the upside into the break. Wheat favored the downside overnight.
Corn, soybeans and wheat mildly favored the downside overnight, but selling was limited and markets are trading high-range early this morning.
Corn and soybean basis weakens as cash prices rise.
Trump still considering 10% tariff on China amid fentanyl concerns
Corn, soybeans and wheat each faced profit-taking early in the overnight session before turning higher into the break, with wheat leading the way.
Corn and soybeans pulled back from strong gains the two previous days during overnight trade, while wheat pivoted around unchanged in choppy trade.
Corn inspections during the week ended Jan. 16 totaled 1.54 MMT, exceeding pre-report expectations while wheat and soybeans fell short.