News
For the week ended Feb., USDA showed corn and wheat inspections up 230,000 MT and 112,000 from the previous week, while soybean inspections fell 420,000 MT after a 320,000 MT upward revision to last week’s figure.
Ukraine expects seeding area to match last year, India’s rice prices continue to rise and beef packers remain at a standoff with feedlots...
Soybeans continue to lead weakness, giving up all of Thursday’s gains overnight, while corn followed to the downside. Wheat futures saw modest corrective gains overnight.
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Corn faced followthrough selling overnight, while soybeans more than erased Thursday’s gains and the wheat market was mixed.
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USDA unexpectedly increased corn ending stock and raised soybean carryover more than anticipated.
USDA showed soybean ending stocks rose 35 million bu. from January, while corn rose 10 million bu,. Meanwhile, 2023-24 global soybean carryover was notably higher than expectations.
Traders await USDA reports, Conab slashes forecasts and ocean imports into the United States are increasing...