Agriculture News
Soybeans mildly built on Friday’s corrective gains during overnight trade while the corn and wheat markets pulled back.
Corn acres are expected to rise nearly 4%; soybean acres expected to be virtually unchanged
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Wheat and corn futures are expected to open higher after strength overnight despite negative outside markets. Soybeans are expected to trade lower after extending the sharp price drop overnight.
Soybeans’ attempt at a corrective rebound overnight proved futile and the market is under pressure this morning. Corn futures traded both sides of unchanged, while wheat firmed overnight.
Beef stocks declined in February, though more than average. Pork stocks rose last month, though less than normal.
ISPFMRA annual survey finds strong gains in farmland values
This year’s negative PDO has been significantly negative for 21 straight months. At the same time, NOAA predicts a strong evolution toward El Niño late this spring and early summer.
Grain and soy markets are expected to open with a firmer tone. Corn will be supported by bullish export news.