Agriculture News
Soybeans are expected to open higher amid corrective buying, while corn and wheat could face mild followthrough selling after failing to sustain buyer interest overnight.
Crop Consultant Dr. Michael Cordonnier’s expectations for corn and soybean plantings.
Data highlights supportive supply fundamentals for beef, struggles for pork
All food prices are now forecast to rise 6.5% in 2023 (range of 4.9% to 8.2%), down from an expected 7.5% increase last month.
Grain and soy futures are expected to favor the downside after failing to sustain corrective buying overnight.
Grain and soy markets worked higher on corrective buying earlier in the overnight session, but buyer interest is drying up this morning.
The HRW CCI rating remains historically low, while the SRW rating is above average.
USDA’s export inspection data for week ended April 20, showed corn and soybeans declining notably from the previous week, while wheat inspections rose by over 100,000 MT.
Grain and soy futures posted two-sided trade overnight, suggesting a rather directionless start to the daytime session.
Short-term trends turn sideways for corn, soybeans and soymeal.
Wheat futures posted mild corrective overnight, while soybeans traded mixed and corn faced followthrough selling.