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Ahead of the Open | October 26, 2022 Winter wheat falls near five-week low on hopes for improved crop conditions; corn lower, soybeans higher.
Grain, soybean futures end lower on pressure from accelerating harvest, concern over demand and China.
Beef stocks increased less than normal during September, though inventories were record-large for the month. Pork stocks declined contra-seasonally last month.
Weekly export inspections for week ended Oct. 20 revealed another week of sizable soybean inspections, at nearly 3 MMT, while wheat fell short of the expected range of 200,000-500,000 MT, and corn was as expected.
Corn, soybeans and wheat futures open the week under pressure. Cattle futures are mildly firmer and lean hog futures are under corrective selling pressure.
Grain, soybean futures lower as U.S. dollar strengthens, crude oil drops.
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Grain and soy futures faced pressure from weak outside markets overnight.
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Soybean futures end firm, post third weekly gain on stronger exports; corn little-changed, wheat mostly lower.
All three categories matched or were close to the average pre-report estimates.