News
The grain and soy complexes faced notable selling to begin the week as improving weather forecasts and technical selling weighed on prices.
Wheat inspections during the week ended July 11 topped pre-report expectations and are outpacing year-ago by 26.3%. Corn inspections also proved noteworthy at 1.08 MMT.
Most stunning failure for Secret Service in decades
Corn, soybeans and wheat each saw sustained selling pressure overnight. Corn futures negated Friday’s gain while soybeans and wheat forged fresh lows.
Trump survives assassination attempt at rally | GOP national convention | Hamas pulls out of cease-fire talks | USDA reports impact | Profiting from biofuels challenging
Trump assaulted at Pa. rally; blood coming from ear; conscious when he left site
Corn futures ended the session higher following a surprise cut to ending stocks in USDA’s supply and demand data today, while soybeans and wheat extended recent selling efforts.
Report data triggered mild corrective buying in corn and soybean futures.
USDA pegged old-crop corn ending stocks at 1.877 billion bu., well below the average estimate of 2.049 billion bu. Soybean ending stocks were also short of average trade guesses, while 2024-25 wheat ending stocks were up notably amid higher production.
Farm equipment sales slump continues | John Deere lays off more workers | Biden defiant
Corn and wheat favored the downside overnight while soybeans saw action on both sides of unchanged.
U.S. dollar weakness, in the wake of a lower June CPI reading, spurred modest short-covering ahead of USDA’s supply and demand update on Friday.
Vilsack asked to review the approval
Corn price outlook shows potential of $3.50 to $3.75 as farmers hold a lot of stocks
Response rates declining | Factors affecting response rates | USDA and ag industry comments
Corrective buying was featured across the grain and soy markets overnight, with each going into the break near session highs.