Agriculture News
Wheat inspections during the week ended June 26 rose 179,657 MT from the previous week, while corn and soybean inspections each declined.
The driest areas of the Corn Belt are Nebraska and South Dakota.
Each notched weekly declines, though soybean sales were up notably from the four-week average, while corn sales dipped modestly.
U.S. dollar index falls to lowest level since February as President Trump eyes early Fed chair announcement.
Basis modestly improved for soybeans and wheat amid the sharp cash price declines.
Corn futures posted contract lows amid continued selling.
Oil prices extended Monday’s sharp retreat as fears of supply disruptions from the Middle East conflict eased.
The corn and spring wheat crops ended multiple weeks of improvement.
Corn inspections led the decline for the week ended June 10, down 218,867 MT from the previous week, followed by wheat (208,660 MT) and soybeans (30,551 MT).
Generally favorable weather is drawing more attention from grain traders than U.S. involvement in the Israel/Iran conflict.
Corn, soybeans and wheat are under pressure to start the week. Livestock futures are mildly higher this morning...