Agriculture News
The corn and wheat markets are deepening earlier gains amid lower-than-expected U.S. and global corn ending stocks, while all wheat production was reported 30 million bu. short of the average trade estimate.
The HRW CCI rating increased for the first time this spring, while the SRW CCI rating declined for the first time.
USDA reported weekly soybean inspections of 349,000 MT for the week ended May 2, which rose 73,000 MT from the previous week. Corn, soybean and wheat inspections were each within pre-report ranges.
Corn, soybeans and wheat pulled back from the strong gains late last week during the overnight session, led lower by sharp losses in the wheat market.
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Grain and soy futures are expected to open solidly higher this morning on followthrough buying.
Corn, soybeans and wheat extended Thursday’s gains during the overnight session.
Our updated monthly and quarterly price forecasts, including the initial projections for the fourth quarter.
Grain and soy futures are expected to open solidly higher on followthrough from overnight price strength.
Weekly soymeal sales during the week ended April 25 missed pre-report expectations and were down 57% from the previous week and 37% four-week average. Corn, soybean and wheat sales were as expected.