News
Grain and soy futures are expected to open moderately to sharply higher on weather concerns and Black Sea tensions.
A combination of weather concerns and increased geopolitical uncertainty in the Black Sea region supported corn, soybeans and wheat overnight.
The extended weather forecast from the National Weather Service calls for “equal chances” for normal, above-normal and below-normal rainfall across the central U.S. during September.
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Soybeans are expected to modestly favor the upside, while corn and wheat are called lower this morning.
USDA reported 2023-24 soybean sales of 1.407 MMT, topping the pre-report range by over 100,000 MT.
Grain markets traded in relatively narrow ranges overnight as soybeans modestly firmed, while corn and wheat declined.
Average cash hog price falls below $100 for the first time in six weeks.