There were no major surprises in USDA's February Supply & Demand Report. But the report data reminded traders there's too much supply and not enough demand for grains and soybeans.
Supreme Court Justice Antonin Scalia, the cornerstone of the court’s modern conservative wing, died Saturday while on a hunting trip in Texas, according to a statement issued by Texas Gov. Greg Abbott. Scalia was nominated to the court by President Ronald Reagan in 1986.
Corn and soybeans were mostly around a penny lower, with SRW and HRS futures weaker while HRW was steady to firmer. Cattle ended weaker and hogs were mostly higher.
Too much supply, not enough demand and limited prospects for a significant improvement in export demand leave the grain and soybean markets grasping for bullish news on the weather front. A summer weather rally may happen, but I wouldn't use pen if writing that into your marketing plan.
Grain and soy complex futures are seeing two-sided trade ahead of the three-day weekend. Livestock futures are stronger.
U.S. cotton and trade policy experts are taking issue with the suggestion that making cottonseed eligible for safety net programs under the 2014 Farm Bill could land the U.S. in breach of its subsidy commitments under the WTO or spur a WTO challenge by Brazil.
Pro Farmer's Chip Flory and Inputs Monitor's Davis Michaelsen discuss input prices for this week's Profit Briefing segment on AgDay TV.
Soybeans lead today’s gains, finishing around 10 cents higher, with corn steady to 1 cent lower. Wheat favored a weaker tone on a mixed close. Cattle were sharply lower and hogs were stronger.
New Zealanders depend on our ability to trade with other countries—and TPP will give us better access to 800 million middle-income customers, eliminating tariffs on 93 percent of our exports.
Corn and wheat futures are slightly higher, with soybeans posting stronger gains. Cattle are lower and hogs are firmer.
As of Sunday, February 14
Feels Like 8°