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Dockworkers’ strike ended Thursday night, removing a potential economic headwind
Beans are expected to open mildly firmer, while corn and wheat will face price pressure.
Soybeans recouped some of Thursday’s losses during the overnight session, while corn and wheat faced followthrough selling.
All work covered by Master Contract will resume
Price rally at one-month highs
Grain futures are expected to open lower, led by soybeans.
Corn sales during the week ended Sept. 26 exceeded pre-report estimates by nearly 700,000 MT, while wheat sales were also stronger than expected. Soybean sales were also solid at 1.44 MMT.
Corn, soybeans and the winter wheat markets favored the downside during overnight trade.
Oil prices | Disaster aid | Dockworker strike | Q3 | Pesticide protections | CARB | $7.7 bil. for conservation practices
Soybean basis firmed despite an increase in cash price.
Dockworker strike update | Southeast woes following Hurricane Helene | 45Z update
Corn and wheat are expected to open higher, soybeans lower.
Corn and wheat futures firmed amid followthrough buying overnight. Soybeans traded higher at points overnight but are weaker early this morning.
Declining income expectations helped to push farmer sentiment down again in September.