Agriculture News
USDA’s corn ratings are 75% or higher “good” to “excellent” in four of the top five producing states.
Corn and wheat futures posted corrective gains overnight after sharp losses Wednesday, while soybeans built on yesterday’s gains.
Fed banks highlight economic conditions, including for the ag sector.
Two-sided trade was seen overnight, with wheat and soybeans firmer amid corrective buying this morning, while corn is trading just below unchanged.
HRW crop is still rated well below its five-year average, while the SRW crop is slightly above normal.
Corn inspections were near the middle of expectations, while soybean inspections were at the lower end of what traders anticipated.
Wheat and corn futures are under heavy pressure coming out of the holiday weekend amid reports Russia will work with Turkey to facilitate Ukrainian grain exports.
Wheat futures faced heavy pressure coming out of the extended weekend, which pulled corn lower. Soybeans were firmer overnight.
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