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U.S. net farm income is forecast to reach $116.8 billion in 2021, up $22.0 billion (23.2%) from 2020 with the 2020 result up $15.7 billion (19.9%) from 2019.
Soybeans, wheat drop to two-week lows overnight, corn also lower amid heightened Omicron variant concern.
Moderna considers new vaccine for Omicron variant, EU consumer inflation surges and Beijing intends to host the winter Olympics as planned...
Wheat futures lead grains and soy complex lower amid profit-taking, dollar strength; cattle drop sharply.
First Thing Today: Followthrough pressure overnight amid heightened risk aversion, month-end selling
Grain and soy complex futures were part of a broader selloff overnight.
The HRW CCI rating is 7.8 points below the five-year average, the SRW rating is 13.5 points under the end-of-fall norm.
Soybean inspections topped expectations at more than 2.1 MMT.
Corn and wheat futures are lower to start the week as soybeans firm. Cattle futures are mildly firmer and lean hogs are mixed...
Wheat futures expected to extend strength on global supply worries, soybeans firm, corn weaker.
China watching House legislation | Biden to speak today about Omicron | Congress returns
HRS and HRW futures led the rebound from last Friday’s sharp losses as concerns with the new Omicrop strain of Covid eased.