Agriculture News
Weekly corn, soybean and wheat sales for week ended Nov. 23 each topped pre-report expectations and rose notably from the previous week.
USDA reported weekly corn sales in week ended March 16 at 3.096 MMT, while soybeans and wheat each missed the low-end of their respective pre-report ranges.
Corn, soybeans and wheat export inspections each topped the previous week, though soybean Inspections continue to run ahead of last year by nearly 3.0%, while corn lags by over 36.0%, with wheat behind by 1.6%.
Short-term trends turn bearish for soybeans and lean hog futures.
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U.S. government forecasters signal La Niña has ended, but the extended weather forecast from the National Weather Service continues to indicate La Niña-like weather will persist through June.
USDA reported weekly corn sales of 1.236 MMT for week ended March 9, near the top-end of the pre-report range. Soybean sales were also near top-end estimates at 665,000 MT, up from net reductions the previous week.
Weekly export inspections for week ended March 9, showed corn inspections for the week at over 999,000 MT, near top-end pre-report estimates, while soybeans were mid-range. Wheat inspections were just shy expectations.