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Grain markets are expected to open weaker this morning after price pressure overnight.
Corn futures were unable to generate followthrough buying overnight after Thursday’s gains, while the soybean and wheat markets extended yesterday’s declines.
Vilsack says to tap CCC for more farm bill funding, talks about trade policy at NAFB event
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.
Corn, soybeans and wheat each saw continued selling pressure in the overnight session, with soybeans and soymeal leading the way lower.
The two-step continuing resolution is expected to clear the Senate, pushing the deadline for a full spending measure to January or February.
Weekly corn sales in week ended Nov. 9 totaled 1.8 MMT, topping expectations by over 250,000 MT, while soybean sales totaled 3.9 MMT.
Corn, soybeans and wheat faced followthrough selling to Wednesday’s losses during the overnight session.