Agriculture News
USDA will update balance sheets to reflect June 1 stocks and its new-crop planted acreage estimates. USDA will also release its first all-wheat production estimate.
Corn, soybean and wheat futures traded sharply higher overnight as markets rebounded from recent hefty losses.
Corn and soybean basis remains well above average, though cash prices plunged.
Corn futures traded lower for much of the overnight session but are mildly firmer this morning, while soybeans and wheat are showing stronger corrective gains following Tuesday’s sharp losses.
The soybean CCI rating dropped below the five-year average for the first time this growing season.
Corn, soybean and wheat export inspections all fell short of expectations and below the required paces to hit USDA’s export forecasts.
Short-term price trend turns down for most of the grain and soy complex markets.
Grain markets didn’t trade overnight and will resume trade at 8:30 a.m. CT. The U.S. dollar surged more than 1,000 points higher, making a new for-the-move high overnight.
State attorney general clears purchase.
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Corn and wheat futures worked mildly higher overnight following Thursday’s sharp losses. Soybeans extended yesterday’s sharp loses.