News
Corn and soybean conditions improve and China’s trade data slumps...
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Grain and soy futures are expected to open lower amid generally favorable weather and bearish Chinese trade data.
Corn and soybeans faced followthrough selling overnight, while wheat futures pulled back from Monday’s gains.
The corn CCI rating is now less than 1% below year-ago, while soybeans and spring wheat are still notably under last year at this time.
USDA reported weekly inspections declined for corn, soybeans and wheat, with wheat falling more than 310,000 MT from the previous week, missing pre-report estimates.
Corn and soybeans are under pressure as wheat trims overnight gains. Cattle futures are choppy as lean hog futures work higher...
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We expect widely varied trade in the grain and soy markets this morning amid pressure from weather and support from escalating tensions in the Black Sea region.