News
Soy complex futures traded higher overnight, while wheat favored the upside and corn faded to a mixed tone this morning.
Argy rains stabilize crops, U.S. HRW wheat crop deteriorates in January and USDA expected to report cattle herd contraction...
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We expect followthrough selling from overnight trade to be seen in the grain and soy markets this morning. Key will be whether funds actively liquidate long positions or view the pullback as a fresh buying opportunity.
Grain and soy complex futures traded lower overnight amid corrective selling and pressure from outside markets.
Individual state crop conditions ratings showed further deterioration of the HRW wheat crop during January.
Weekly export inspections for week ended Jan. 26, showed corn inspections 200,860 MT below the previous week, missing low-end estimates by over 70,000 MT. Wheat and soybean export inspections were each notable.
Soybeans are sharply higher with wheat higher and corn futures mixed to start the week. Cattle futures are higher with lean hogs mixed...
Grain and soy markets are expected to see followthrough buying from price gains overnight amid weather concerns.