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Corn, soybeans and wheat each favored the downside most of the overnight session, though saw corrective gains into the break with soybeans leading the way higher.
Corn, soybeans and wheat extended Monday’s losses during the overnight session.
Malanga notes the possibility of the Federal Open Market Committee (FOMC) considering a rate cut in March if labor market weakness becomes apparent.
During the week ended Jan. 25, weekly wheat and soybean inspections were down from the previous week, while corn inspections rose 155,000 MT.
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Corn, soybeans and wheat each saw continued selling pressure overnight, though saw modest corrective gains from session lows into the break.
Short-term trend turns bullish for lean hog futures.
Corn, soybeans and wheat faced increased selling pressure during overnight price action and are trading near session lows this morning.
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Core PCE falls to nearly 3-year low | Water clash between Texas & Mexico | Biden halts new LNG export terminal approvals
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The grain and soy markets favored the downside overnight as soybeans continue to lead weakness.
Corn and soybeans faced followthrough selling overnight, while wheat retreated from recent gains.
That would still be the smallest annual increase in overall food prices since they rose 0.9% in 2017.
Treasury Secretary Janet Yellen in Chicago to give ‘major’ address on economy