Your Pro Farmer newsletter (April 29, 2023) is now available

The grain and soy markets faced heavy selling pressure amid eroding technicals and active fund selling. Fundamental pressure for corn came from Chinese old-crop cancellations, while wheat plunged as HRW areas of the Southern Plains received the best rains since last summer and news Canadian farmers intend to plant the most wheat acres in 22 years. Soybeans faced pressure from seasonally slowing export demand as Brazil actively exports its record crop onto the global market. On the economic front, initial data showed U.S. economic growth slowed more than anticipated during the first quarter. Still, the Fed is expected to raise interest rates another 25 basis points after the May 2-3 monetary policy meeting amid sticky inflation. With debt-limit legislation seemingly getting closer, a major focus in Washington is debate over a new farm bill. We look at the wide-ranging wants of commodity groups and the major issues that need to be addressed. We cover all of these items and much more in this week’s newsletter, which you can download here.