News
USDA estimated 59% of U.S. winter wheat areas were covered by drought, down five points from the previous week and 10 points lower than last year at this time.
Corn, soybeans turn higher on USDA data. Corn and soybean production also fell short of estimates, leaving ending stocks below the average pre-report estimate.
South American crop forecasts fall, the EU expects a rise in wheat production and China’s Consumer Price Index firms...
Soybeans and corn are expected to be supported by Argentine crop concerns and outside markets.
White House: President Biden does not support a ban on gas stoves
Weekly export sales for week ended Jan. 5 reported corn sales below low-end expectations for the second week straight, while wheat and soybeans each landed within their lower expected ranges.
Grain and soybean futures firmed overnight amid followthrough buying as traders awaited USDA’s January crop reports later this morning.
Soybean basis declined but remained above futures and the cash price firmed over the past week.
After the Bell | January 11, 2023 Gains in soymeal and crude oil futures underpinned strength in the grain and soy complex ahead of Thursday’s government updates.