Agriculture News
RMI registers negative for ninth consecutive month.
During the week ended May 9, weekly pork sales totaled 21,100 MT, a marketing-year low, while soybean sales missed the pre-report range of estimates, falling 38% from the previous week. Weekly corn sales dropped 17%.
Drought covers 25% of winter wheat areas, 12% for corn and 9% for soybeans.
Wheat rebounded from yesterday’s losses overnight, pulling corn and soybean futures modestly higher.
Basis weakened slightly for corn, soybeans and wheat.
Corn, soybeans and wheat rebounded from Tuesday’s losses during the overnight session, led by gains in wheat.
Corn futures extended recent gains overnight, while soybeans and wheat eased after earlier attempts at the upside.
The HRW crop improved despite a drop in the Kansas crop.
Soybean export inspections during the week ended May 9 reached 406,000 MT, above the expected pre-report range and up 48,000 MT from the previous week. Corn and wheat inspections were as expected.