Agriculture News
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Old-crop soybeans poked above $16 overnight, but key is whether there’s sustained buying above that level – something that hasn’t happened the two previous times.
Monthly rural banker survey finds plenty of positives but worries about input costs.
Cash soybean prices drop but remain historically strong at over $15.
The 90-day forecast continues to give elevated odds of above-normal temps across HRW areas. Below-normal precip also is likely over all but far eastern areas of the Central and Southern Plains.
Buyer interest built throughout the overnight session in the soybean and soymeal markets and futures are trading near session highs this morning.
Soybean basis slipped a little over the past week, as farmer selling likely picked up, but remains stronger than average.
Soybeans regained most of Tuesday’s losses overnight, while corn and wheat recouped only a fraction of their declines.