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Grain, soybean futures lower as U.S. dollar strengthens, crude oil drops.
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Grain and soy futures faced pressure from weak outside markets overnight.
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Soybean futures end firm, post third weekly gain on stronger exports; corn little-changed, wheat mostly lower.
All three categories matched or were close to the average pre-report estimates.
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Fertilizer prices falling | Europe loading up on Brazilian ethanol | Mortgage rates near 7%
Grain, soybean futures under pressure amid U.S. dollar surge, optimism over Ukraine export deal.
Corn, soybean and wheat futures retreated from Thursday’s gains overnight amid renewed hopes for a Ukrainian grain export extension and pressure from outside markets.
Soybean futures jump to high for week on improved export demand; corn gains for first time in five sessions, wheat also firmer.
Rural Mainstreet Index marks sixth decline in seven months.
Farm diesel prices rise to the highest level since the third week of July.
The Seasonal Drought Outlook indicates drought will persist or develop across most areas of the Plains, Delta and Southeast, though there could be some improvement in the Ohio River Valley.
Grain, soybean futures firmer as traders watch for updates on Ukraine export deal.
Diesel supply of just 25 days poses problem for President Biden and Democrats
There were “targeted improvements in the Southern Plains,” though none of that came in the major HRW wheat production states.
Weekly export sales for week ended Oct. 13 revealed soybean sales over 2 MMT, while corn fell within pre-report estimates, but continues to lag last year’s pace by over 50%. Wheat missed low-end expectations by 30 MT.
Supportive outside markets helped fuel a corrective rebound in grain and soy futures overnight.
Basis improves for both corn and soybeans despite Mississippi River shipping issues.