Agriculture News
Soybeans and wheat faced followthrough selling overnight, while corn futures pivoted around unchanged in quiet trade.
Corn, soybeans and wheat are higher to open the week. Cattle futures are higher with lean hogs under pressure...
Corn, soybeans and wheat recouped a portion of last Friday’s sharp losses during the overnight session, led by double-digit gains in the soybean market.
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For the week ended Dec. 26, net corn sales were down 55% from the previous week, while soybean and wheat sales fell 51% and 77% from the previous week, each carving a new marketing-year low.
Corn and soybeans pulled back overnight from recent gains, while wheat mildly extended yesterday’s losses.
There was no overnight grain trade. Grain and livestock markets will resume trading at 8:30 a.m. CT.
Corn basis firmed along with rising cash prices.
Traders covered more short positions in the soybean and wheat markets overnight, while corn rebounded from Monday’s losses.
Corn inspections during the week ended Dec. 26 led the decline, falling 268,000 MT from the previous week, while soybean and wheat inspections dropped 204,469 MT and 68,238 MT, respectively. However, net inspections were within pre-report estimates.