Agriculture News
Corn, soybeans and wheat traded in narrow ranges during the overnight session ahead of USDA’s reports later this morning.
Corn, soybeans and wheat extended Tuesday’s losses during the overnight session.
Corn and soybean basis firmed a little as cash prices weakened.
Corn, soybeans and wheat faced mild price pressure during a relatively quiet overnight session.
State-level winter wheat condition ratings signaled more general improvement in the HRW crop over the past month, despite a minor downtick in top producer Kansas.
USDA says a small number of dairy herds in Texas and Kansas tested positive for a strain of highly pathogenic avian influenza (HPAI).
Frozen pork stocks declined contra-seasonally during February, while beef inventories fell more than average.
Corn inspections during the week ended March 21 totaled 1.228 MMT, down nearly 100,000 MT on the week but more than double the same week a year-ago. Meanwhile, soybean inspections rose 68,000 MT on the week.
Grain futures are mildly firmer to open the week. Cattle futures are under pressure from last Friday’s Cattle on Feed Report.