Overnight Market Update- 2/23/21- Soy Leads Mixed Grain Trade

Grain markets are mixed to higher with row crops and products sharply higher while wheat paces with gains. Soybeans rallied steadily from the overnight open through midnight before turning a bit sideways but have tacked on 20 cents in the process. Soybeans on China’s Dalian Exchange were up 0.3% while soybean meal was up 0.49% and corn was down 1.10%.

Comments later today from Federal Reserve Chairman Jerome Powell in front of Congress will also be of interest for markets. Energy markets are higher overnight as the rally continues. The U.S. Dollar Index dipped below 90.00 Monday and overnight before recovering but the short-term trend remains down. Precious metals are weaker overnight as is copper.

Farm and Ranch Director Jesse Allen has our update: