Agriculture News
Corn sales during the week ended Sept. 26 exceeded pre-report estimates by nearly 700,000 MT, while wheat sales were also stronger than expected. Soybean sales were also solid at 1.44 MMT.
Sept. 1 corn, soybean ending stocks lower than expected.
Sept. 1 corn stocks of 1.760 billion bu. were short of analysts’ average pre-report estimate by 84 million bu., while soybean stocks of 342 million bu. were shy 9 million bu. Wheat stocks and production were each slightly above pre-report estimates.
Weekly soybean inspections during the week ended Sept. 26 totaled 675,749 MT, up 177,000 MT from the previous week, while corn and wheat inspections each declined on the week.
Corn and soybean futures are lower with wheat futures higher to start the week. Cattle futures are choppy with lean hogs slightly firmer...
Corn and soybeans are expected to open weaker, with wheat likely to see a firmer tone.
Short-term trend turns bullish for corn and the soy complex.
Wheat futures rebounded from Friday’s losses during the overnight session, while corn and soybeans pulled back from their gains at the end of last week.
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Soybeans and corn traded on either side of unchanged overnight, but are weaker early this morning, while wheat faced mild followthrough selling throughout the session.
Most of the Hogs & Pigs Report data was neutral, aside from hefty late-year market hog inventories.