Agriculture News
Wheat export inspections in week ended March 30 were reported at 168,543 MT, missing the low-end of the pre-report range by over 130,000 MT. Corn inspections were notable, but still lag last year’s pace by nearly 37%.
Corn, soybeans and wheat are expected to open higher after strong gains overnight amid support from surging crude oil futures.
Short-term trends turn bullish for corn, soybeans, live cattle and feeder cattle
Corn, soybeans and wheat posted active followthrough buying overnight on help from surging crude oil futures.
Soybean planting intentions and March 1 stocks came in lower than expected.
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USDA’s Quarterly Stocks data showed figures lower than the average trade guess, sending the soybean market higher, while the news also led corn higher, though gains have been capped by higher-than-expected acres.
Quiet trade is expected ahead of USDA’s Prospective Plantings and Quarterly Grain Stocks Reports at 11 a.m. CT.
Price action was relatively quiet in the grain and soy markets overnight as traders await key USDA report data later this morning.
Data was mostly neutral and shouldn’t have a direct impact on trade Friday.