Agriculture News
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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USDA Secretary Tom Vilsack at Thursday’s Senate Ag Committee hearing discussed a wide array of topics critical to the ag sector and impacts to farmers.
Trading ranges were much tighter overnight than recent days in corn, soybean and wheat futures.
Recent rains have eased drought in the Southern and Central Plains, but the relief is too late for much of the crop.
Cash wheat prices fall sharply but still well above year-ago.
Old-crop corn export sales were a marketing-year low. New-crop sales were light, too.
Wheat and corn futures faced heavy selling pressure overnight but remained above Wednesday’s lows. Selling in soybeans was lighter.