Agriculture News
Corn and soybean futures pulled back overnight from strong gains earlier this week. Wheat also traded lower.
Corn basis firmed along with a rally in futures. Soybean basis declined as futures rallied.
USDA is expected to fine tune its U.S. and global old- and new-crop balance sheets in Friday’s Supply & Demand Report.
Area reports show strong gains in farmland values over FNC service are
Soybean futures scored new contract highs amid strong followthrough buying overnight. Corn and wheat futures also firmed.
The World Bank slashed its global economic growth for 2022 to 2.9% from 5.7% last year as the war has compounded pandemic-induced damage.
The wheat market gave back a small portion of Monday’s strong gains overnight, while corn and soybeans traded mixed.
USDA’s corn ratings are 75% or higher “good” to “excellent” in four of the top five producing states.
Soybean inspections fell shy of expectations
