News
Corn and wheat futures posted corrective gains overnight, while soybeans also traded higher despite weakness in soymeal.
Cash soybean meal price tops $500 for the first time since August.
Cash hog prices show signs of a seasonal low.
The data failed to move markets much from where they were trading ahead of USDA’s reports.
USDA reported ending stocks for corn, soybeans and wheat higher than pre-report estimates.
Only minor adjustments expected in today’s S&D Report, President Biden hopes to “finish the job,” and feedlots may capture upper hand in cash cattle negotiations...
The mostly firmer tone overnight is expected to carry over to daytime trade as traders await USDA’s reports later this morning.
USDA WASDE today | Brazil crop estimates | Ukraine grain exports fall sharply
Grain and soy futures traded solidly higher overnight, led by old-crop soybeans.
Speech could have been titled “Let’s Finish the Job” because he kept repeating the refrain