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USDA reported soybean and wheat export inspections of 669,566 MT and 335,444 MT, respectively; up over 165,000 MT from the previous week. While corn inspections dropped notably.
Corn and soybeans are under pressure with wheat futures mixed. Cattle futures are lower although traders foresee higher cash trade again this week. Hog futures are mostly higher to start the week.
Wheat futures are expected to open firmer, with HRW contracts likely to lead gains amid weather concerns.
EPA vehicle emissions standards rule coming Wed. | Russia comments on Ukraine grain exports
Short-term, intermediate and long-term trends are all bullish for live cattle futures.
Wheat futures traded solidly higher coming out of the extended holiday weekend, while corn favored the downside and soybeans traded mixed.
IMF/World Bank meetings | Deficit grows | EPA announcement | Biden to Ireland
Labor force participation rate highest since pandemic began
The credit could provide a major boon to biofuel products made of wastes and oils, but producers are also eyeing a big new market for corn-based ethanol.
