Agriculture News
Winter wheat markets modestly rebounded from contract lows earlier in the overnight session.
Corn and beans weaker, winter wheat rebounds overnight.
The HRW crop is rated above year-ago, while SRW is well below last year.
Wheat inspections during the week ended April 24, were up notably on the week, topping anlysts’ pre-report expectations. Net corn and soybean sales each declined on the week but were as expected.
Uncertainty on the trade front and generally favorable weather have grains on the defensive to open the week.
Grain and soy futures are under pressure to open the week. Cattle futures are firmer with lean hogs mixed...
Trend is now down for SRW wheat and soymeal.
Conflicting remarks from U.S., China officials on trade talks despite signs of de-escalation.
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Cash grains posted little price movement over the past week.
Corn, soybeans and wheat boosted by followthrough buying overnight.
Drought covers 33% of winter wheat, 26% of corn, 21% of soybeans and 49% of spring wheat.
Corn rebounded from recent losses and wheat traded mostly lower overnight.
Corn basis remains well below average.
Uncertainty around trade policy was noted across all 12 districts, especially for agriculture.
President Trump floats ‘substantial’ China tariffs cuts.
Grains continue to brush aside much of the headlines on trade/tariffs.
CCI ratings declined notably in Kansas and Illinios over the past week.
Weekly corn and wheat inspections each declined on the week, but exceeded pre-report expectations
Ag futures continue to handle the trade headwinds better than other markets.