Agriculture News
Weekly soybean sales during the week ended May 23 rose 18% from the previous week, though exports for the week slipped to a marketing-year low of 208,400 MT.
Corn, soybeans and wheat recouped some of the losses from earlier this week during the overnight session.
Cash corn prices firm a little, while soybean prices ease.
USDA estimated drought covered 5% of corn production areas and 3% for soybeans as of May 28.
Wheat futures faced active followthrough selling overnight, while corn and soybeans favored the downside in two-sided trade.
Basis firmed for corn and soybeans as cash prices dropped.
Corn, soybeans and the winter wheat markets mildly favored the downside overnight.
HRW crop continues modest late-season improvement, while SRW crop is declining ahead of harvest.
Weekly wheat inspections during the week ended May 23 rose 170,704 MT from the previous week, while corn inspections fell nearly 150,000 MT. Meanwhile, soybean inspections rose modestly on the week.
Wheat futures posted strong gains overnight coming off the extended holiday weekend amid ongoing Russian crop concerns. Corn followed to the upside, while soybeans slumped after a firmer start.