Agriculture News
Volatility was reduced from recent days in grain and soy complex futures overnight, as corn, soybeans and wheat all traded within relatively tight ranges compared to recent standards.
U.S. bean and corn carryout stocks decreased, wheat increased
Winter wheat futures traded sharply lower overnight but generally held above Tuesday’s lows. Soy complex futures traded sharply higher. Corn mildly favored the downside.
May SRW wheat is higher this morning after extremely volatile trade overnight, but other wheat contracts and corn are lower. Soybeans are firmer.
USDA on Wednesday should increase U.S. corn and wheat exports to reflect major uncertainties with Black Sea grain shipments.
Short-term chart trends turn bearish for live cattle and feeder cattle.
The most actively traded winter wheat contracts are up their new 85-cent daily trading limit, while May and July spring wheat futures are up their 60-cent limit. Corn and soy complex futures are also sharply higher.
Access this week’s newsletter here.
Surging prices rekindle food vs. fuel debate
Winter wheat futures locked up their 75-cent daily trading limit overnight, while spring wheat rose its 60-cent limit. Corn traded sharply higher, while soybeans posted just slight gains.