Agriculture News
Grain and soybean futures are expected to open mostly lower following another week of disappointing export sales.
Weekly export data for week ended May 18, showed net reductions for corn and wheat, while soybean sales were up noticeably from the previous week. Though, meal sales were the highlight; up 68% from the four-week average.
Corn, soybean and wheat futures held in tight ranges in quiet, two-sided overnight trade.
Cash hog prices continue slow, methodical seasonal climb.
Corn basis improved along with a big jump in the cash price.
Beef stocks declined more than average, while pork inventories climbed more than normal during April.
Wheat futures are expected to open lower after price pressure overnight. Corn is called steady/firmer, while soybeans are likely to be mixed.
Soybeans faced followthrough selling during overnight trade, while corn and wheat pulled back from Tuesday’s gains.
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.