Agriculture News
The wheat market faced profit-taking and corrective selling overnight following strong gains the first two days this week. Corn was pulled slightly lower by wheat, while soybeans favored the upside in two-sided trade.
USDA Secretary Tom Vilsack appeared before the House Ag Committee Thursday for nearly four hours.
Wheat and soybeans within expectations
Soybeans, corn and spring wheat pulled back from Thursday’s gains overnight, while winter wheat futures extended yesterday’s losses.
The Rural Mainstreet Index is above growth neutral for the 14th straight month.
Cash corn prices are well above year-ago, but soybeans dropped below last year.
The National Weather Service’s (NWS) 90-day forecast continues to give elevated odds of above-normal temps and below-normal precip across HRW areas of the Southern Plains through April.
Soybean futures built on Wednesday’s strong gains overnight, while the corn and winter wheat markets faced corrective selling.
Corn basis firms, soybean basis slips; both remain above futures.
Soybeans rebounded from Tuesday’s losses overnight, while wheat and corn extended yesterday’s gains.
