News
Wheat futures expected lower on profit-taking from sharp gains, soybeans higher, corn down slightly.
Corn futures settle at 7 1/2-month high as Russia-Ukraine tension helps send winter wheat to four-week highs, soybeans lower.
It’s typical for frozen beef stocks to rise during December, though the increase was slightly greater than normal. It’s also normal for pork stocks to decline in December, though the drop was less than average.
Weekly corn, soybean and wheat inspections were all within the range of pre-report estimates.
Corn and soybeans are under pressure as wheat futures find support to start the week. Cattle futures are sharply lower as lean hog futures post corrective losses.
Winter wheat near three-week high on Russia-Ukraine tension, corn fades from seven-month high, soybeans lower.
Wheat futures were supported by increased geopolitical tensions between Russia and Ukraine, while soybeans and corn were pressured by South American weather.
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Corn futures end week at seven-month high on stronger exports, soybeans slip on profit-taking, hog futures soar.