Agriculture News
Corn sales during the week ended May 22 dipped 23%, while soybean sales declined 53%. Meanwhile, new-crop wheat sales remained firm.
Wheat and corn are under pressure to open the week, while soybeans are mildly firmer coming out of the holiday weekend.
The improvement for wheat may be short-lived as prices are under pressure to open the week.
Grain traders mostly focused on weather, but trade happenings remain on the radar.
May 1 feedlot inventory declined 1.5% from year-ago, as expected.
Part of the increase in pork stocks tied to a big downward revision to March inventories.
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Corn, soybeans and wheat poised to post strong weekly gains.
Several U.S. farm commodity groups and the American Farm Bureau Federation did not hold back in criticizing portions of the report.
Cash soybean prices weakened over the past week.
Crude oil futures are under pressure and the U.S. dollar index is firmer.