Agriculture News
Quarterly Federal Reserve Bank survey finds continuing gains in farmland prices, favorable credit conditions.
Corn, soybeans and wheat are expected to open lower this morning after losses overnight and disappointing export data, especially for soybeans.
Weekly soybean and wheat export sales each missed their respective pre-report range, while corn sales were mid-range. Net soymeal (277,800 MT) and cotton (246,800 RB) sales were each the bright spots for the week.
Corn, soybean and wheat futures faced pressure while holding in relatively tight trading ranges overnight.
Corn basis remains premium and well above average.
USDA will update its old-crop ending stocks, release its first 2023-24 balance sheets and issue its initial winter wheat crop estimate.
Corn, soybeans and wheat are expected to open lower on followthrough selling, but all three markets finished well off their overnight lows.
Corn, soybeans and SRW wheat faced followthrough selling overnight, while HRW and HRS wheat futures pulled back from Tuesday’s gains.
Corn, soybean and winter wheat futures are expected to open solidly lower after selling pressure overnight.