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Stabenow’s farm bill comments: Out of context, or running out of time?
Corn, soybeans and wheat each pulled back from Tuesday’s gains overnight, continuing the norm of overnight weakness. Each is near pivotal resistance.
Soybean futures retreated from Tuesday’s gains during overnight trade, while the corn and wheat markets have weakened after two-sided price action earlier in the session.
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Corn and wheat saw corrective selling most of the overnight session though pared losses into the break, while soybeans posted modest gains.
Soybeans extended Monday’s declines overnight, while corn and wheat pulled back from yesterday’s gains.
Weekly corn inspections totaled 1.122 MMT during the week ended March 7, down slightly from the previous week, but near the top end of the pre-report range. Soybean inspections fell notably on the week.