Agriculture News
The Office of Management and Budget (OMB) has scheduled an increasing number of meetings concerning the EPA’s final rule on levels for the Renewable Fuel Standard (RFS).
Corn and wheat futures are expected to open higher. Soybeans are called lower after mild weakness overnight.
Soybean futures pulled back from Monday’s strong gains during overnight trade, while the corn and wheat markets have firmed after earlier trading lower.
CCI ratings remain historically low for the HRW crop and above average for SRW.
Annual ISU survey highlights cash rents paid for 2023.
Weekly wheat inspections for week ended May 18, showed 407,682 MT, topping the range of expectations. Corn inspections were near the top-end of the pre-report range and up nearly 150,000 MT from the week prior.
Corn and soybeans are expected to open higher, while wheat is likely to face followthrough selling after pressure overnight.
Short-term trends turn bullish for cotton and live cattle; bearish for soymeal.
Corn and soybeans were supported by corrective buying overnight, while wheat faced followthrough selling.
On the surface, the report data is neutral. But the underlying numbers are bullish.
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