News
Corn, soybeans and wheat open the week under light selling pressure. Fat cattle are firmer with lean hogs mixed this morning...
No overnight grain trade. Grain and livestock markets open at 8:30 a.m. CT for an abbreviated session until 12:05 p.m. CT.
Basis slips a little for corn and soybeans; both weaker than average.
Third quarter banker survey notes declining incomes, still low loan demand and rising farmland values.
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Soybeans favored the downside overnight amidst profit taking, wheat futures favored the upside, corn was stuck in the middle and traded narrowly near unchanged. Each saw an increase in selling pressure into the break.
Soybeans turned lower after rallying 60 cents in two sessions to start the week, wheat futures continue to bounce from near-contract lows and corn saw light trading on both sides of unchanged overnight.
Recent Brazilian rains have been hit-&-miss, U.S. treasuries rebound and the Dollar Index continues to fall...