Agriculture News
Today’s 75-basis-point increase to interest rates signals the Fed has grown increasingly concerned with inflation, though it is still playing catchup.
Corn basis continues to firm. The national average cash price is now just shy of $8.
Soybeans are expected to trade higher, while corn and wheat are called lower this morning.
Soybeans rebounded some from Monday’s sharp losses, while corn and wheat traded lower overnight but held above yesterday’s lows.
Initial spring wheat CCI rating is a little below average.
Soybean inspections running stronger than normal during this time of year.
Soybean futures extended last Friday’s price pressure overnight, while corn and wheat favored the upside amid two-sided trade.
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As expected, USDA made just minor modifications to its forecasts this month.