News
Corn futures drop to three-month low as chart breakdown fuels fund selling; wheat also lower, soybeans higher.
Drought covers 80% of the U.S., with 74% of U.S. winter wheat area impacted.
Cash cattle price climbs to the highest since May 2015.
Soybean futures led price declines overnight as the market pulled back from strong gains earlier this week. Corn and wheat faced mild selling pressure overnight.
Soybean basis and the average cash price both rose.
Soybeans extend rally, hit highest level in over two months on demand optimism, soymeal rally; wheat higher, corn lower.
District agricultural conditions were mixed, though mostly strong.
Fed Chair Powell to speak as markets, traders await content | RFS info due today
Soybean futures rise to highest in over two months on demand optimism, corn and winter wheat also firmer
Soybean futures pushed to their highest levels since September overnight, while corn and wheat were supported by end-of-the-month corrective buying.
The CCI ratings for HRW and SRW are both well below the respective five-year averages.