News
The increase in beef stocks was about average during November.
Corn posted fractional gains, soybeans saw corrective buying and wheat rose for the second consecutive day. Cotton futures rose as well. Cattle chopped near unchanged, while hog futures saw steady buying.
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Corn, soybeans and wheat each favored the upside overnight with each firming into the break, as each saw little volatility overnight.
Corn, soybeans and wheat modestly favored the upside, while holding in tight trading ranges during a quiet overnight session.
Corn and wheat saw corrective buying on Thursday despite losses in the soy complex. Cotton futures slipped after intraday volatility. Cattle futures pulled back from recent gains while hogs saw light buying.
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The RMI below growth neutral for fourth consecutive month.
Restaurant prices expected to increase 4.9%, up from 4.3% in November
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Wheat futures showed relative strength overnight despite weakness in the soy complex, while corn traded in a tight range.
Pork export sales for 2023 and 2024 were strong and weekly shipments were a high for the year.
Corn, soybeans and wheat traded in narrow ranges during the overnight session.
Basis firmed for soybeans and is now positive.
The ag markets saw selling pressure across the board today aside from cattle, which rose on anticipation of firmer cash trade.
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