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Domestic ending stocks were unchanged for corn and soybeans, higher for wheat and lower for cotton.
Corn and soybean ending stocks were unchanged from February, while wheat ending stocks rose 15 million bu. However, global corn and wheat ending stocks were lower than pre-report estimates; soybeans were as expected.
U.S. job growth totaled 275,000 in February, exceeding expectations | Sugar updates
USDA to update balance sheets, House passes spending bill and the U.S. ag trade deficit widens...
Corn and soybeans saw modest corrective selling overnight on light volume, while wheat futures consolidated near contract lows.
Grain trade was light overnight ahead of USDA’s March crop reports later this morning.
February’s Farm Financial Performance Index reading of 85 was 1 point lower than January and 13 points below its most recent peak in December.
Grain and soy markets surged overnight, each would mark a significant reversal if gains are sustained throughout today’s session.
Soyoil sales for the week ended Feb. 29 reached a marketing-year high of 29,200 MT, while soybean sales landed above pre-report estimates. Meanwhile, corn and wheat sales were within their respective pre-report ranges.
Senate to clear first FY 2024 spending package | China trade | Earmarks | ‘Voluntary’ COOL
Corn futures built on Wednesday’s gains overnight, while soybeans and wheat also firmed amid corrective buying.
Corn and soybean basis weakens on the rollover to May futures.
Haley exits contest, withholds support for Trump | USDA to update voluntary labeling rules for U.S. meat products; concerns raised by Mexico and Canada
Corn and soybeans saw action on both sides of unchanged overnight, wheat favored the downside though pared losses into the break.
Wheat futures faced followthrough selling during the overnight session, while corn and soybeans held near unchanged in quiet trade.
Super Tuesday | Sinema opts out | Estate tax | SEC climate-risk disclosure rule | Kerry exits | Trump & Iowa