News
USDA’s Weekly Export Inspections data was within pre-report estimates, though corn and wheat inspections fell notably on the week, while soybean inspections rose slightly.
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Corn held on to corrective gains while soybeans and wheat turned lower. Cotton powered to yearly highs. Cattle faced losses while hogs showed relative strength.
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Grain and soy futures are expected to open with a firmer tone to start the new month after corrective gains overnight.
The new month kicked off with corrective price gains in the grain markets overnight, led by soybeans.
A rising U.S. dollar index pressured crop and hog markets today, though cattle showed relative strength.
Cash soybean prices mildly firmed while corn and wheat values dropped over the past week.
The overall drought footprint across the U.S. was unchanged, but corn, soybean and cotton areas worsened.