Agriculture News
Wheat firmer, soybeans weaker and corn choppy overnight.
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Corn, soybeans and wheat initially pushed higher in an extension of corrective gains the two previous days during the overnight session but have weakened this morning.
Tariffs uncertainty raises degree of difficulty for our updated monthly and quarterly price outlooks.
Trump’s aggressive tariffs/trade policy stance is creating anxiousness in ag markets.
Weekly exports of upland cotton totaled 334,000 RB during the week ended Feb. 27, while net sales rose 45% to 241,500 RB. Meanwhile, corn and wheat sales were up on the week, while soybean sales slid.
Corn, soybeans and wheat built on Wednesday’s corrective gains during overnight trade.
Basis dropped for both corn and soybeans despite sharply lower cash prices.
Strengthening crop prices, positive returns in the livestock sector and expectations for receipt of disaster payments from USDA all combined to strengthen current conditions.
Trump administration signals possible tariffs relief for Canada and Mexico.