Agriculture News
Wheat futures are sharply higher with corn following to the upside and beans under light pressure. Cattle futures are mixed with lean hogs working higher to start the week...
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.
Corn, soybeans and wheat faced followthrough selling overnight in reaction to the start of a tariffs war with major trading partners.
Based on our Crop Condition Index, all states except Kansas (unchanged) and Colorado (up 1 point) declined during February.
Corn inspections during the week ended Feb. 27 rose 185,000 MT from the previous week and landed near the upper end of analysts’ pre-report range. Wheat inspections rose modestly, while soybean inspections declined 183,000 MT.
Corn and soybeans are under light pressure with wheat futures higher to start the week. Cattle futures are lower with lean hogs mixed...
Wheat futures mildly supported by sharp losses in the U.S. dollar.
Short-term trend is also now bearish for hog futures
Corn futures faced light followthorugh selling overnight, while wheat firmed.