Agriculture News
Cash soybean prices weakened over the past week.
Crude oil futures are under pressure and the U.S. dollar index is firmer.
Corn and soybean basis remains much weaker than normal.
July SRW wheat futures reached a four-week high during overnight trade.
Wheat led overnight price gains after an unexpected drop in crop ratings.
The modest declines came despite improvements in the top producers for both crops – Kansas for HRW and Illinois for SRW.
During the week ended May 15, corn inspections rose 419,000 MT from the previous week, nearly topping analysts’ pre-report range. Soybean inspections were notably short of expectations.
A discussion on a historical look at USDA’s initial WASDE projections.
Wheat, corn and soybeans are higher to start the week. Cattle and hogs are choppy, but mostly lower...
Short-term trends remain unchanged for most markets this week.
Focus will remain on trade developments and crop weather.
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Weekly cash corn prices weakened, while soybean prices firmed.
Soybeans tried to work higher on corrective buying overnight, but succumbed to continued pressure on soyoil late in the session.
Potential quiet end to the week comes after earlier volatile price action.
Bankers Note weakening financial conditions.
Chicago Federal Reserve Bank Also Finds 4% Quarterly Gain.
Creighton’s monthly survey finds growing pessimism.
The Seasonal Drought Outlook calls for drought to persist or develop across the much of the western Corn Belt and Plains through August.
Soy stocks historically come in tighter than estimated.