Mounting concerns that the newest covid variant could spark a global economic slowdown led to a broad selloff Tuesday that affected everything from stocks and energy prices to grain and livestock futures.
between Wednesday and Saturday, but parts of the eastern Corn Belt and Great Lakes region could see some measurable moisture during that time, per the latest 72-hour cumulative precipitation map from NOAA.
On Wall St., the Dow stumbled 498 points lower in afternoon trading to 34,637 as investors wrestle with possible economic implications from the latest Covid variant, omicron.
It did note that NASS will be surveying more than 80,000 producers over the first two weeks of December.
Agricultural Trade, the agency projects fiscal year grain exports at $175.5 billion, falling $2 billion from its August forecast.
Soybean prices faded nearly 1.75% lower after a round of technical selling largely spurred by spillover weakness from a broad range of other commodities.
December Chicago SRW futures fell 33.75 cents to $7.7375, December Kansas City HRW futures tumbled 35.75 cents to $8.1825, and December MGEX spring wheat futures dropped 22.25 cents to $10.20.