Agriculture News
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.
Access this week’s newsletter here.
Corn, soybeans and wheat are called higher on corrective buying after recent heavy selling pressure.
Corn, soybean and wheat futures traded mildly higher on corrective buying during overnight trade.
Both Scott and Thompson criticized the idea of excluding larger farms from farm bill programs, pointing out that these farms account for nearly 90% of U.S. ag production.
10-state snapshot of rural economies finds steady improvement but growing concerns.