Agriculture News
Drought improvement was seen in Texas, but conditions worsened in the Central and Northern Plains, along with areas of the Midwest.
Corn, soybean and wheat futures are trading near session lows this morning amid a varied price tone coming out of the extended holiday weekend.
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Corn, soybeans and wheat bounced back from recent losses in a round of corrective buying overnight that was triggered by outside markets.
Cash hog prices start their seasonal decline with sharp losses.
Spotty, heavy rain fell across the Midwest this week, leading to a mix of drought improvement and deterioration.
Corn and soybeans faced followthrough selling overnight while wheat retreated from Wednesday’s gains amid pressure from outside markets and building global recessionary concerns.
Results of Mid-Year Snapshot Survey by Illinois Society of Professional Farm Managers and Rural Appraisers
USDA raised its forecasts for ag exports and imports in fiscal year (FY) 2022. The initial forecast for FY 2023 projects ag exports will decline $2.5 billion and imports will rise another $5 billion.
Corn, soybean and wheat futures built on Tuesday’s losses during overnight trade.