Agriculture News
Winter wheat production and new-crop wheat ending stocks both came in well shy of pre-report expectations.
Corn basis remains premium and well above average.
USDA will update its old-crop ending stocks, release its first 2023-24 balance sheets and issue its initial winter wheat crop estimate.
Corn, soybeans and wheat are expected to open lower on followthrough selling, but all three markets finished well off their overnight lows.
Corn, soybeans and SRW wheat faced followthrough selling overnight, while HRW and HRS wheat futures pulled back from Tuesday’s gains.
Corn, soybean and winter wheat futures are expected to open solidly lower after selling pressure overnight.
Updated crop estimates from Dr. Michael Cordonnier.
Corn, soybean and winter wheat futures faced pressure overnight, while spring wheat traded mildly higher.
Top producer Kansas led the HRW decline, falling nearly 3.6 points over the past week.
Weekly corn inspections fall short of pre-report estimates, while corn and wheat inspections land near the lower-end of their respective ranges.