News
USDA reported weekly corn sales of 1.236 MMT for week ended March 9, near the top-end of the pre-report range. Soybean sales were also near top-end estimates at 665,000 MT, up from net reductions the previous week.
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Grain and soy futures are expected to open lower after pressure during overnight trade. Corn could get a boost from daily export sales to China.
Corn and soybeans faced followthrough selling overnight, while the wheat market pulled back from Monday’s corrective gains.
Weekly export inspections for week ended March 9, showed corn inspections for the week at over 999,000 MT, near top-end pre-report estimates, while soybeans were mid-range. Wheat inspections were just shy expectations.
Corn and soybeans opened the week under light pressure with wheat higher. Cattle futures are lower with lean hog futures narrowly mixed...
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Grain and soy markets are expected to open under pressure amid broader risk aversion.
