News
Soybeans recouped most of their losses the two previous days during overnight trade, while corn also traded to the upside and wheat had a varied tone.
Soybean basis firmed over the past week and is now in line with the three-year average.
Beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Sept. pork stocks dropped, whereas there is normally a small buildup in supplies.
Iowa’s farmland values, which saw consecutive record-breaking increases for two years, are now showing signs of cooling, though they remain near historic highs.
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Grain and soy markets are expected to open mostly lower in quiet trade.
Corn, soybeans and wheat posted two-sided price action while holding in relatively tight trading ranges overnight.
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