News
Corn and soybean basis declined along with cash prices.
Technical selling hovered over the grain and soy complexes, though soyoil futures extended from Tuesday’s lows, marking gains for the first time in five sessions.
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Wheat continues to show relative while corn and soybeans saw followthrough selling overnight.
Followthrough buying in wheat, corn and beans extend losses overnight.
Soybean futures took back Monday’s gains, while corn ended the session modestly weaker amid mixed outside markets, though firming wheat prices lent support.
Iowa was the only state in the Farm Credit Services report to experience a decline in farmland values.
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Corn, soybeans and wheat each traded lower in overnight trade, despite rebounding outside markets.
All three crops remain rated well above last year at this time.
The grain and soy complexes ended the session higher, despite a broad risk-off tone across the marketplace, with extended weakness in the U.S. dollar lending support.
Josh Linville, Director of Fertilizer at StoneX surveys the current situation and looks out to the coming months
Weekly corn inspections during the week ended Aug. 1 totaled 1.2 MMT, up 143,000 MT from the previous week and topping analysts’ pre-report expectations.
Grain and livestock markets are lower to start the week with a sharp falloff in feeder cattle futures leading the
Corn, soybeans and wheat each saw selling pressure though stayed above recent lows.
Traders starting to signal need for emergency Fed meeting to lower rates
Grains pressured overnight by generally favorable weather and strong risk aversion.