Agriculture News
Corn and soybeans tried to work higher on corrective buying at points overnight but favorable weather and trade uncertainties kept buyer interest limited.
Grains are expected to continue the followthrough selling that pressured markets overnight.
Favorable weather, trade uncertainties continue to weigh on grains.
The corn crop is now rated 6.7 points above year-ago, while soybeans are still 1.7 points below last year at this time. Spring wheat is 31.9 points below last year.
Grain markets are under heavy pressure with livestock futures choppy to start the week...
Barring a change in weather pattern, grain markets will need another source of support for an extended price recovery.
Favorable weather, trade uncertainty and weakening cash livestock fundamentals will weigh on futures to open the week.
Favorable weather triggered an active round of selling in grains to kick off trade after the holiday weekend.
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Corn, soybeans and the winter wheat markets extended Wednesday’s strong gains during overnight trade.
Corn and bean basis remains much weaker than average.
Cash cattle prices continue to retreat after historic rally.
Corn futures faced followthrough selling overnight, though remaining above Tuesday’s contract lows.
Concerns about U.S. agricultural exports were a leading factor in the weaker long-term sentiment.
Corn conditions unexpectedly improved to the highest rating for this time of year since 2018.
No real surprises in planted acreage estimates or June 1 stocks, aside from cotton acreage coming in higher than anticipated.
USDA trimmed both corn and soy acres from its March estimate, while stocks were slightly higher than expected for corn, soybeans and wheat.
Wheat inspections during the week ended June 26 rose 179,657 MT from the previous week, while corn and soybean inspections each declined.
Corn futures are weaker with soybeans higher and wheat futures choppy. Livestock futures open the week under pressure...