Agriculture News
The National Weather Service’s (NWS) 90-day forecast continues to give elevated odds of above-normal temps and below-normal precip across HRW areas of the Southern Plains through April.
Dry conditions worsen in HRW, improve in SRW
Soybeans, wheat and soymeal within expectations
Soybean futures pulled back from Wednesday’s gains overnight, while corn and wheat faced followthrough selling.
Boxed beef prices strengthened over the past week, while the cash cattle price weakened.
The wheat market had the biggest reaction to the data as winter wheat seedings topped expectations, while U.S. and global wheat ending stocks increased from last month.
Increases U.S. corn, soybean and wheat carryout
Corn, soybeans and wheat held in tight trading ranges overnight as traders await USDA’s January crop reports later this morning.
Corn, soybeans and wheat held in relatively tight trading ranges in quiet overnight price action.
USDA’s January crop reports tend to swiftly move markets since there’s so much data.