News
Grain, soybean futures firmer as traders watch for updates on Ukraine export deal.
Diesel supply of just 25 days poses problem for President Biden and Democrats
There were “targeted improvements in the Southern Plains,” though none of that came in the major HRW wheat production states.
Weekly export sales for week ended Oct. 13 revealed soybean sales over 2 MMT, while corn fell within pre-report estimates, but continues to lag last year’s pace by over 50%. Wheat missed low-end expectations by 30 MT.
Supportive outside markets helped fuel a corrective rebound in grain and soy futures overnight.
Basis improves for both corn and soybeans despite Mississippi River shipping issues.
Corn futures drop fourth straight session on harvest pressure; wheat also lower, soybeans bounce back, end firmer.
Specifically relating to agriculture, the Fed noted “reports were mixed, as drought conditions and high input costs remained a challenge.”
Biden to continue to sell from SPR, Russian planes patrol neutral waters and Mpls Fed President holds the line of monetary tightening...
Corn, soybean futures lower on increasing harvest pressure; wheat futures rebound as trade watches Ukraine.