Agriculture News
Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.
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.
Corn and soybean futures swung to both sides of unchanged during the overnight session, while wheat favored the upside.
Annual report from Illinois Society of Professional Farm Managers and Rural Appraisers.
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Soybean futures posted sharp losses overnight, while corn and wheat traded mildly lower.
Creighton University’s monthly survey finds negative outlook by bankers deepening but farmland values holding stable.
The Seasonal Drought Outlook calls for drought to persist across much of Iowa, Minnesota and Wisconsin through June.
Weekly wheat sales were reported at (109,600) MT for the week ended March 14, which were down noticeably from the previous week. Corn and soybean sales were as expected.