Agriculture News
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
Corn, soybeans and wheat faced light price pressure overnight amid escalating trade tensions.
Access this week’s newsletter here.
Corn, soybeans and wheat have turned mostly weaker early this morning after trading higher at points earlier in the overnight session.
Corn sales during the week ended Jan. 30 totaled 1.48 MMT, rising 9% from the previous week and 32% from the four-week average.
Corn, soybeans and wheat traded on both sides of unchanged overnight but are mildly firmer early this morning.
Corn basis inched up as the average cash price slipped.
Corn and wheat futures mildly favored the upside overnight and are trading near session highs early this morning while soybeans have slipped a little.
The barometer’s rise was primarily attributable to a 9-point rise in the Current Conditions Index amid a rise in commodity prices.