Agriculture News
The HRW crop improved despite a decline in top producer Kansas, while SRW crop improvement was primarily in leading producer Illinois.
Our updated monthly and quarterly price forecasts.
Outlook calls for drought in the western Corn Belt and Plains through July; most of the eastern Corn Belt will be drought-free.
Soybean sales during the week ended April 24 rose 55% on the week despite the seasonal lull amid fresh South American supplies. Wheat sales were also up noticeably, while corn sales slid 12% week-over-week.
Traders await weekly export sales data later this morning.
Sharp weekly declines in soybean, wheat basis on rollover to the July contracts.
Economists fear President Trump’s trade/tariff stance could push ag into a deeper recession.
Winter wheat markets modestly rebounded from contract lows earlier in the overnight session.
Corn and beans weaker, winter wheat rebounds overnight.
The HRW crop is rated above year-ago, while SRW is well below last year.
Wheat inspections during the week ended April 24, were up notably on the week, topping anlysts’ pre-report expectations. Net corn and soybean sales each declined on the week but were as expected.