News
Short-term trend turns bearish for soybeans, rice, live cattle and lean hog futures.
Corn and wheat futures traded solidly higher overnight, while soybeans favored the upside in two-sided trade.
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Davis Michaelsen and Editor Brian Grete discuss this week’s market action...
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USDA’s quarterly grain stocks data showed YOY increases for corn, soybeans and wheat. Corn stocks were pegged at 1.376 billion bu., below the average trade estimate of 1.512 bb, with soybeans 32 million bu. higher.
Sept. 1 corn stocks came in 135 million bu. below the average pre-report trade estimate. The wheat production estimate was 128 million bu. lower than traders anticipated.
Wheat futures tracking for second weekly gain on concern over Russie-Ukraine; corn and soybeans also firmer.