Agriculture News
Soybeans extended Friday’s strong gains but came well off the highs into the close. Corn and wheat failed to maintain earlier corrective gains.
Drought now covers 70% of corn areas and 63% of soybeans.
Corn, soybean and winter wheat futures are expected to open mildly weaker, though selling should be more subdued than price action over the past week.
USDA’s weekly export data for week ended June 22, showed net sales for corn, soybeans and wheat within their respective ranges, but near low-end expectations.
Corn, soybeans and wheat posted two-sided trade overnight as markets calmed from recent volatile price action.
Cash corn and soybean prices plunge amid sharp declines in futures.
Grain and soy futures are expected to open sharply lower after active followthrough selling overnight.
Soybeans, wheat and new-crop corn futures faced followthrough selling overnight, while July corn futures pivoted around unchanged.
Grain and soy futures will open sharply lower after heavy selling overnight.
Despite sharper-than-expected declines in corn and soybean crop condition ratings, those markets traded sharply lower overnight amid forecasts for improved rain chances. Wheat also traded sharply lower overnight.