Agriculture News
Generally favorable weather is drawing more attention from grain traders than U.S. involvement in the Israel/Iran conflict.
Cash corn, soybean and wheat prices are well under year-ago levels.
The Seasonal Drought Outlook shows the greatest area of risk for dryness is Nebraska, along with portions of southern South Dakota and far northern Kansas through September.
Soybean basis dropped sharply over the past week.
USDA is launching an $8.5 million sterile fly dispersal facility in southern Texas and unveiling a sweeping five-part plan to boost surveillance, response and eradication efforts at the border and beyond.
The broader marketplace is monitoring escalating tensions in the Middle East and awaits Fed commentary and other macroeconomic developments.
Corn, soybeans and spring pivoted around unchanged overnight, while the winter wheat markets mildly favored the upside.
Soybean crop ratings took a small step backwards over the past week.
Corn inspections totaled 1.67 MMT during the week ended June 12, down slightly from the previous week but landed just short of the upper end of the pre-report range.
A lot of market-moving factors for markets to digest entering a typically volatile period.
Soybean futures are higher with corn and wheat futures under light pressure. Livestock futures are higher to start the week...