Agriculture News
Grain and soy markets are expected to open sharply lower amid followthrough selling.
In week ended May 11 corn and wheat marked new marketing year lows with net reductions of 339,000 MT and 42,100 MT, respectively. Weekly soybean sales were down 73% from the week prior and 89% from the four-week average.
Wheat futures posted sharp losses overnight amid followthrough selling, while corn and soybeans faced lesser selling pressure.
Cash prices for corn and soybeans dropped sharply over the past week.
The new pricing system scraps a so-called fuel import parity policy that more closely aligned prices at the pump with the oil market and exchange rates.
Corn, soybeans and SRW wheat will face followthrough selling, while HRW and spring wheat may be mildly supported by crop concerns.
Corn, soybeans and SRW wheat faced followthrough selling overnight, while HRW and spring wheat firmed.
New University of Colorado Boulder research shows the number of farms globally will shrink in half as the size of the average existing farms doubles by the end of the 21st century.
Corn, soybeans and winter wheat are expected to trade lower early this morning after losses overnight.