Agriculture News
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...
USDA’s June 30 reports, One Big Beautiful Bill, last-minute trade negotiations and more in what will be a holiday-shortened week.
Corn, soybeans and wheat traded on both sides of unchanged in a relatively light overnight session as traders await USDA’s reports later this morning.
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This is historically the most volatile trading day of the year.
All three markets are poised for sharp losses for the week.
Diesel prices climb back above $3.00.
Combination of slightly bigger-than-expected spring pig crop and revisions to market hog inventories from the previous two quarters pushed the June 1 hog herd up 0.3% from year-ago.
The driest areas of the Corn Belt are Nebraska and South Dakota.
Each notched weekly declines, though soybean sales were up notably from the four-week average, while corn sales dipped modestly.