Agriculture News
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.
Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.
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Quarterly survey in ag bankers in Illinois, Indiana, Iowa, Wisconsin finds strong gains the farmland values.
Soybeans are higher this morning after there was limited followthrough selling from Thursday’s poor closes early in the overnight session. Corn and wheat are following soybeans higher.
Kansas, Texas and Oklahoma reduced abnormally dry/drought areas
Wheat exports sales below trade expectations
Soybean futures continued their strong rally, with most old-crop contracts surging above $16 overnight. Corn and wheat followed soybeans higher.
Corn and soybean basis slipped, but cash prices surged.
Projected 2021-22 ending stocks for corn, soybeans, wheat and cotton all came in higher than the average pre-report estimates.