Agriculture News
While old- and new-crop ending stocks were both well below pre-report expectations, wheat production landed well above analysts’ estimates.
General market risk appetite is up after the U.S./UK trade deal and weekend talks with China.
Corn, soybean and most wheat prices are under year-ago.
Soybeans led a round of gains in the grain and soy complex overnight ahead of an expected trade deal with Britain and upcoming U.S., China talks.
2023-2024 Supplemental Disaster Assistance
Both remain well below average.
U.S., China to hold trade talks in Geneva this weekend.
Improvement in farmer sentiment occurred despite ongoing trade disputes with many of U.S. agriculture’s largest trading partners.
Corn and winter wheat markets were supported by light corrective buying overnight, while soybeans and spring wheat faced light followthrough selling.
The HRW crop improved despite a decline in top producer Kansas, while SRW crop improvement was primarily in leading producer Illinois.
Weekly wheat inspections during the week ended May 1 led the decline, falling 339,000 MT.