News
Corn, soybeans and wheat firmed overnight amid mild corrective buying following sharp losses the first two trading sessions of the new year.
Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.
The Purdue University/CME Group Ag Economy Barometer rallied sharply in December to the highest reading for 2022.
Corn and soybean futures are mixed with wheat under pressure to start the week. Fat cattle futures are mildly higher with feeders and lean hogs under light pressure.
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Short-term trends are bullish for grain and soy futures.
Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.
Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend. Outside markets were price-negative, with crude oil weaker and the U.S. dollar sharply higher overnight.
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Expected pushback from farmers, others