News
Weekly new-crop corn and soymeal sales for the week ended July 18 each exceeded analyst’s expectations, while new-crop soybean sales were within the upper-end of the pre-report range.
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Corn and soybeans saw followthrough buying overnight while wheat posted modest losses. Each saw an increase in buying pressure into the break.
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The spring wheat CCI rating slipped a little.
Wheat inspections during the week ended July 18 slid 383,000 MT from the previous week, falling short of pre-report expectations.
Soybeans are sharply higher with milder gains in corn and wheat. Cattle futures are sharply higher to open the week and lean hogs are mildly favoring the upside...
Corn and soybeans led buying efforts overnight, though both stopped just shy of key technical resistance. Wheat rebounded early though went into the break near unchanged.
No changes to short, intermediate or long-term trends.