News
Soybean export inspections for week ended Feb. 23 missed low-end expectations by 159,000 MT and were down from the previous week by 893,000 MT. Though wheat inspections were above top end estimates by over 90,000 MT.
Corn and soybeans are off to a tepid start with wheat futures under pressure. Cattle futures are choppy with hog futures mildly higher to start the week...
Short-term trend turns bearish for corn, SRW wheat.
Corn and soybeans are expected to see mild corrective buying, while followthrough selling is likely in the winter wheat markets.
Food policy analyst offers perspective on ending of some SNAP benefits on March 1
Corn, soybeans and wheat traded on both sides of unchanged overnight in relatively quiet price action.
WOTUS | Farm bill hearing | Supreme Court and student loan debt forgiveness program
Davis Michaelsen and Editor Brian Grete discuss this week’s market action...
The data is mildly friendly compared to pre-report expectations, with all three categories on the bullish side of the average trade estimates.
Beef stocks declined contra-seasonally in January, implying demand was strong, especially since beef production rose in December.
Access this week’s newsletter here.
U.S. equities sharply lower on hot inflation news
Wheat sales for week ended Feb. 16 were 338,800 MT, a 62% increase from the previous week nearly 40% above the 4-week average. Corn sales were 30% below the 4-week average, with soybeans nearly 20% below.
Grain and soy futures are expected to open lower on followthrough selling and pressure from the U.S. dollar.
Soybeans firmed on light corrective buying overnight, while the corn and wheat markets faced pressure.
USDA again lowers FY 2023 ag export forecast
Yellen wary of China’s support for Russia, Eurozone inflation eases and China will exert more government control over finances...
Light, two-sided trade is expected in the grain and soy markets this morning.