Agriculture News
Corn, soybean and spring wheat drought areas decline
Beef and corn export sales drop
Old-crop corn futures posted new contract highs overnight, while December corn came with 1/2 cent of its high. Wheat was also firmer, while soybean were mixed.
Choice boxed beef prices extended their recent price decline over the past week.
Soybeans and soyoil extended gains overnight, while corn and wheat are trading lower this morning after two-sided overnight trade.
Corn and spring wheat futures extended Monday’s gains overnight amid planting delays concerns. Soybeans and winter wheat rebounded from Monday’s losses.
The sharp drop in HRW CCI rating was led by a 6.2-point deterioration in the Kansas crop and a nearly 3-point decline in Oklahoma.
Short-term trends turn sideways for SRW wheat and cotton.
USDA’s Cattle on Feed Report is bearish, as the April 1 feedlot inventory and March placements both topped the highest pre-report estimates.