Agriculture News
Grain traders mostly focused on weather, but trade happenings remain on the radar.
May 1 feedlot inventory declined 1.5% from year-ago, as expected.
Part of the increase in pork stocks tied to a big downward revision to March inventories.
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Corn, soybeans and wheat poised to post strong weekly gains.
Several U.S. farm commodity groups and the American Farm Bureau Federation did not hold back in criticizing portions of the report.
Cash soybean prices weakened over the past week.
Crude oil futures are under pressure and the U.S. dollar index is firmer.
Corn and soybean basis remains much weaker than normal.
July SRW wheat futures reached a four-week high during overnight trade.