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After the Bell | February 29, 2024

Vilsack on CCC, farmer-safety net, fertilizer, foreign ownership of farmland, Prop 12, Packers & Stockyards Act, other issues

French shippers avoid Red Sea, Russia not interested in renewing Black Sea grain deal and today marks First Notice day for March contracts...

Soybeans led the grain and soy markets lower overnight as May soybeans trade fresh contract lows. Export sales rebounded for corn and wheat but remain abysmal for soybeans, according to this morning’s report.

Weekly cotton sales during the week ended Feb. 22 were down 69% from the previous week and 83% from the four-week average. Meanwhile, corn, soybean and wheat sales each rose week-over-week.

Corn and soybeans favored the downside and are near session lows this morning, while wheat is mostly weaker.

Cash corn and soybean prices continue to drop.

Basis firms for both corn and soybeans but remains slightly below average.

After the Bell | February 28, 2024