Agriculture News
Favorable weather triggered an active round of selling in grains to kick off trade after the holiday weekend.
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Corn, soybeans and the winter wheat markets extended Wednesday’s strong gains during overnight trade.
Corn and bean basis remains much weaker than average.
Cash cattle prices continue to retreat after historic rally.
Corn futures faced followthrough selling overnight, though remaining above Tuesday’s contract lows.
Concerns about U.S. agricultural exports were a leading factor in the weaker long-term sentiment.
Corn conditions unexpectedly improved to the highest rating for this time of year since 2018.
No real surprises in planted acreage estimates or June 1 stocks, aside from cotton acreage coming in higher than anticipated.