Agriculture News
Soybeans and wheat are expected to open sharply lower, with corn likely to trade lower on spillover pressure.
Beans and wheat faced heavy pressure coming out of the holiday weekend, while corn modestly favored the downside in mixed trade.
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Corn, soybeans and wheat are expected to open higher following solidly firmer trade overnight. Support will come from weather, greater risk appetite and outside markets.
Corn, soybean and wheat futures showed price strength overnight and are trading near their session highs early this morning.
The Office of Management and Budget (OMB) has scheduled an increasing number of meetings concerning the EPA’s final rule on levels for the Renewable Fuel Standard (RFS).
Grain and soybean futures are expected to open mostly lower following another week of disappointing export sales.
Weekly export data for week ended May 18, showed net reductions for corn and wheat, while soybean sales were up noticeably from the previous week. Though, meal sales were the highlight; up 68% from the four-week average.
Corn, soybean and wheat futures held in tight ranges in quiet, two-sided overnight trade.
Cash hog prices continue slow, methodical seasonal climb.
Corn basis improved along with a big jump in the cash price.
Beef stocks declined more than average, while pork inventories climbed more than normal during April.
Wheat futures are expected to open lower after price pressure overnight. Corn is called steady/firmer, while soybeans are likely to be mixed.
Soybeans faced followthrough selling during overnight trade, while corn and wheat pulled back from Tuesday’s gains.
Corn and wheat futures are expected to open higher. Soybeans are called lower after mild weakness overnight.
Soybean futures pulled back from Monday’s strong gains during overnight trade, while the corn and wheat markets have firmed after earlier trading lower.
CCI ratings remain historically low for the HRW crop and above average for SRW.
Annual ISU survey highlights cash rents paid for 2023.
Weekly wheat inspections for week ended May 18, showed 407,682 MT, topping the range of expectations. Corn inspections were near the top-end of the pre-report range and up nearly 150,000 MT from the week prior.