Agriculture News
No changes to short-term trends for ag markets this week.
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.