News
Corn, soybean and wheat futures are trading near session lows this morning as markets extend Tuesday’s weaker (and low-range) closes.
Corn, soybean and wheat futures are higher to start the week although spring wheat futures are lower on profit taking. Livestock futures are also higher.
Corn futures near six-month high, soybeans at four-month high on South America dryness, wheat at one-month high.
Corn, soybean and wheat futures extended their recent rallies overnight as traders returned from the extended Christmas holiday weekend.
Corn futures extend rally to end at six-month high, soybeans end at four-month high, winter wheat snaps back.
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USDA estimates the U.S. hog herd at 74.201 million head as of Dec. 1, down 3.111 million head (4.0%) from last year.
USDA estimates there were 11.985 million head of cattle in large feedlots (1,000-plus head) as of Dec. 1, down 51,000 head (0.4%) from both year-ago and the average pre-report estimate.
U.S. Drought Monitor shows 58% of the U.S. winter wheat crop area is covered by drought conditions as of Dec. 21.