Agriculture News
USDA reported corn sales were up 33% on the week, while soybeans were up noticeably and up 73% from the four-week average. Weekly wheat sales rose 37% week-over-week, but were down 17% from the four-week average.
Monthly survey finds rising optimism in 10-state ag economies.
The 90-day forecast suggests most of the key corn and soybean areas should see generally favorable conditions for August through October.
Grain and soy futures are expected to open daytime trade with a firmer tone as traders focus on weather and geopolitics.
USDA reported net soymeal sales of 272,500 MT for week ended July 13, which exceeded top-end pre-report estimates. Meanwhile, net wheat sales fell short of trade expectations.
Corn, soybeans and wheat traded on both sides of unchanged during the overnight session.
Cash hog and pork product prices continue to climb seasonally.
Grain and soy futures are expected to open sharply higher amid uncertainties with the Black Sea grain supply and weather concerns.
Corn, soybeans and wheat sharply extended Tuesday’s gains during the overnight session amid concerns with U.S. weather and Black Sea grain supplies.
Grain and soy futures are expected to open solidly higher after price gains overnight.