Agriculture News
Mato Grosso grain storage deficit could reach 64 MMT...
Soybeans extended gains from the past two days during overnight trade, while corn and wheat firmed amid mild corrective buying.
While the wheat crops in Oklahoma, Colorado and Montana showed modest improvement, the other states declined.
Weekly corn inspections topped pre-report estimates of 1.35 MMT for week ended April 27, while wheat was near the top-end pre-report range and soybeans mid-range.
Wheat futures opened the week under heavy pressure after the best rains across Plains HRW areas last week.
Corn and wheat are expected to open under pressure, while soybeans are called mildly firmer this morning.
Short-term trends turn bearish for grain and soy futures.
Wheat futures faced pressure overnight, while corn was mostly weaker and soybeans favored the upside.
EPA Administrator Michael S. Regan said, “Allowing E15 sales during the summer driving season will not only help increase fuel supply, but support American farmers, strengthen U.S. energy security. . .
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