Agriculture News
Sharp weekly declines in soybean, wheat basis on rollover to the July contracts.
Economists fear President Trump’s trade/tariff stance could push ag into a deeper recession.
Winter wheat markets modestly rebounded from contract lows earlier in the overnight session.
Corn and beans weaker, winter wheat rebounds overnight.
The HRW crop is rated above year-ago, while SRW is well below last year.
Wheat inspections during the week ended April 24, were up notably on the week, topping anlysts’ pre-report expectations. Net corn and soybean sales each declined on the week but were as expected.
Uncertainty on the trade front and generally favorable weather have grains on the defensive to open the week.
Grain and soy futures are under pressure to open the week. Cattle futures are firmer with lean hogs mixed...
Trend is now down for SRW wheat and soymeal.
Conflicting remarks from U.S., China officials on trade talks despite signs of de-escalation.