Agriculture News
Soybeans and wheat found mild followthrough buying overnight, while buying was restricted in corn and spring wheat.
Annual ISU survey finds an average acre of Iowa farmland rocketed 29% in 2021.
Corn, soybean and wheat futures are mildly weaker this morning as a quietly traded overnight session winds down.
Soybean export inspections were lower than expected and down sharply from both week- and year-ago.
Corn, soybean and wheat futures are trading near session lows this morning, led lower by spring wheat contracts.
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Wheat futures faced followthrough selling at points overnight but are firmer and trading near session highs in a modest corrective rebound this morning. Corn mildly eased, while soybeans held in their choppy range.
Sixteen auctions in a month saw new records posted in price per productivity index point.
Drought-affected areas expanded and intensified on the Drought Monitor map in areas of the South including Louisiana, Arkansas and Texas as well as in the Southern Plains.
We expected a yawner from USDA this month and that’s exactly what it delivered, aside from wheat – and even that wasn’t a surprise.