Agriculture News
USDA’s Cold Storage Report signaled demand is not keeping pace with supplies amid near-record retail prices.
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Corn and soybean futures saw active followthrough buying overnight after strong gains Thursday, while the wheat market was quiet in two-sided trade.
Monthly survey finds negative impact from raging input costs, high expectations of recession.
Heat isn’t expected to build in the central and northern Corn Belt until after corn pollination.
Corn sales were a marketing-year low for 2021-22 and light for 2022-23, too.
Corn futures mildly built on Wednesday’s gains overnight, while soybeans and wheat traded mixed.
Today’s 75-basis-point increase to interest rates signals the Fed has grown increasingly concerned with inflation, though it is still playing catchup.
Corn basis continues to firm. The national average cash price is now just shy of $8.
Soybeans are expected to trade higher, while corn and wheat are called lower this morning.