News
Soybeans led the grain and soy markets lower overnight as May soybeans trade fresh contract lows. Export sales rebounded for corn and wheat but remain abysmal for soybeans, according to this morning’s report.
Corn and soybeans are trading near unchanged this morning after light two-sided trade overnight, while wheat futures have weakened.
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Soybeans led the way higher overnight as soybeans, corn and wheat each saw gains into the break. Each is nearing 10-day moving average resistance, which will be the first real test of the recent bounces.
HRW crop continues to rebound from a rough start last fall.
Soybeans firmed amid followthrough buying overnight, while corn and wheat mildly favored the upside is light trade.
Weekly corn inspections during the week ended Feb. 22 totaled 1.242 MMT, exceeding the pre-report range by over 91,000 MT and rose nearly 190,000 MT from the previous week.
Soybeans are firmer with corn and wheat under pressure to start the week. Cattle futures open the week under pressure with lean hogs also lower...