Agriculture News
Soybeans inspected for export during the week ended June 13 rose 100,000 MT from the previous week, while wheat inspections rose modestly. Meanwhile, corn inspections were notable, but fell 54,000 MT on the week.
Soybeans extended Monday’s declines overnight, while corn and wheat pulled back from yesterday’s gains.
Weekly corn inspections totaled 1.122 MMT during the week ended March 7, down slightly from the previous week, but near the top end of the pre-report range. Soybean inspections fell notably on the week.
Short-term trends turn sideways for corn, soybeans, soymeal and soyoil.
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Corn and soybean ending stocks were unchanged from February, while wheat ending stocks rose 15 million bu. However, global corn and wheat ending stocks were lower than pre-report estimates; soybeans were as expected.
February’s Farm Financial Performance Index reading of 85 was 1 point lower than January and 13 points below its most recent peak in December.
Soyoil sales for the week ended Feb. 29 reached a marketing-year high of 29,200 MT, while soybean sales landed above pre-report estimates. Meanwhile, corn and wheat sales were within their respective pre-report ranges.
Corn, soybean and wheat weekly export inspections during the week ended Feb. 29 each fell from the previous week, though all were within pre-report expectations.
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