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Third quarter bank survey finds rocketing land values, banker optimism
Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.
The Bipartisan Infrastructure Framework is scheduled to be signed by President Biden this afternoon. The Build Back Better plan has a way to go, but the White House hopes to have it approved as late as this weekend.
SRW wheat futures extend rally to nine-year highs on tighter global supply outlook, corn and soybeans also higher.
SRW wheat futures trade near nine-year highs to start week, corn, soybeans slightly lower.
Union: New offer has modest modifications to offer voted down Nov. 2; Vote Wed.
Soybeans are mildly higher with corn futures lower and wheat futures mixed to start the week. Livestock futures are under slight pressure.
White House to host BIF signing ceremony | Biden/Xi to hold virtual summit this evening
Recent price strength has also turn the short-term trend up for soybean meal and intermediate trend sideways.
The strength in soymeal failed to trigger overnight buying in soybean or corn futures.