Agriculture News
Soybean export inspections were lower than expected and down sharply from both week- and year-ago.
Corn, soybean and wheat futures are trading near session lows this morning, led lower by spring wheat contracts.
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Wheat futures faced followthrough selling at points overnight but are firmer and trading near session highs in a modest corrective rebound this morning. Corn mildly eased, while soybeans held in their choppy range.
Sixteen auctions in a month saw new records posted in price per productivity index point.
Drought-affected areas expanded and intensified on the Drought Monitor map in areas of the South including Louisiana, Arkansas and Texas as well as in the Southern Plains.
We expected a yawner from USDA this month and that’s exactly what it delivered, aside from wheat – and even that wasn’t a surprise.
Big jumps in weekly cash prices for corn and soybeans.
All three were within the range of pre-report expectations but up sharply from the previous week.