Agriculture News
Wheat above expectations, corn and beans within expectations
Grain and energy markets had a big price response overnight to escalating tensions between Russia and Ukraine as U.S. markets reopened following the three-day weekend.
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Old-crop soybeans poked above $16 overnight, but key is whether there’s sustained buying above that level – something that hasn’t happened the two previous times.
Monthly rural banker survey finds plenty of positives but worries about input costs.
Cash soybean prices drop but remain historically strong at over $15.
The 90-day forecast continues to give elevated odds of above-normal temps across HRW areas. Below-normal precip also is likely over all but far eastern areas of the Central and Southern Plains.
Buyer interest built throughout the overnight session in the soybean and soymeal markets and futures are trading near session highs this morning.
Soybean basis slipped a little over the past week, as farmer selling likely picked up, but remains stronger than average.
Soybeans regained most of Tuesday’s losses overnight, while corn and wheat recouped only a fraction of their declines.
Conditions in southern Brazil are worse than expected and there may be additional yield losses due to drought.
Soybeans extended Monday’s declines overnight, while the winter wheat markets were pressured by an apparent easing of tensions between Russia and Ukraine. Corn followed the other two markets lower.
Soybean inspections drop, but within expectations
No changes to short-term trends for ag markets this week.
Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.
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Quarterly survey in ag bankers in Illinois, Indiana, Iowa, Wisconsin finds strong gains the farmland values.
Soybeans are higher this morning after there was limited followthrough selling from Thursday’s poor closes early in the overnight session. Corn and wheat are following soybeans higher.