Agriculture News
Wheat and corn futures retreated from yesterday’s strong gains, while soybeans saw followthrough selling overnight after a weak finish Thursday.
Grain and energy markets had a big price response overnight to escalating tensions between Russia and Ukraine as U.S. markets reopened following the three-day weekend.
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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.