Agriculture News
USDA’s Cattle on Feed Report Friday afternoon is expected to show March 1 inventories up 1.1% from year-ago levels, which if realized would top last year’s record for the date by 132,000 head.
Wheat futures pulled back from yesterday’s gains overnight as back-and-forth price action continued. Corn followed wheat lower, while soybeans firmed.
Diesel prices surge amid jump in global energy prices tied to the war between Russia and Ukraine.
The extended weather outlook through June offer no hope of meaningful relief for drought-parched HRW areas, but it favorable for rapid progress for spring-planted crops.
Corn and soybeans firmed after failing to take out Wednesday’s lows overnight. Wheat futures gapped lower but rebounded to fill the gaps and are trading mostly firmer this morning.
Wheat basis rebounds from the plunge the previous week, corn and soybean beans weakens.
Wheat futures traded sharply lower overnight, which pulled the corn market lower. Soybeans, along with meal and soyoil traded higher.
Wheat futures traded higher but have come well off their overnight highs this morning, while corn and soybeans faced followthrough selling.
