Agriculture News
Frozen beef stocks declined more than average during March, signaling demand remains strong. Pork inventories built contra-seasonally last month.
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Corn, soybean and wheat futures are expected to open firmer amid corrective buying.
Corn, soybeans and wheat posted corrective gains during the overnight session.
Creighton University’s survey finds bankers remain pessimistic on economic outlook.
The 90-day outlook calls for above-normal temps over most areas of the country, with “equal chances” of rainfall over most of the Corn Belt.
Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.
Corn futures mildly extended Wednesday’s losses overnight, while soybeans erased gains from yesterday. Wheat was supported by light corrective buying.
Corn basis continued to firm seasonally but remains below the three-year average.
The LanzaJet Inc. facility in Georgia will likely run on mostly sugarcane ethanol imported from Brazil when it starts commercial production.