News
China increases corn in feed rations, U.S. money supply declines and Mosaic will not restart idled potash mine...
USDA’s weekly export data for week ended Jan. 19 showed wheat sales up 6% from the previous week and 84% from the prior four-week average. Net soybean sales were up 53% from the four-week average, while corn was up 46%.
Soybeans and wheat built on Wednesday’s gains during the overnight session, while corn rebounded from yesterday’s modest declines.
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Cash hog prices continued their extended seasonal decline.
Beef stocks rose more than average during December, while pork stocks increased versus the normal small drawdown in inventories during the month.
USDA’s food price outlook data and forecasting methodology were revised this month.
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Soybeans are expected to open weaker, with wheat firmer and corn near unchanged.