Agriculture News
Corn, soybeans and wheat traded in narrow ranges during a quiet overnight session.
Weekly corn sales for the week ended April 18 topped pre-report expectations by a notable margin, while soybean sales missed the pre-report range.
Soybeans pulled back from recent gains overnight, while corn and wheat traded on both sides of unchanged.
Wheat basis held relatively steady despite the big jump in cash prices.
Frozen beef stocks declined more than average during March, signaling demand remains strong. Pork inventories built contra-seasonally last month.
USDA’s Animal and Plant Health Inspection Service (APHIS) will require testing for the H5N1 virus in dairy cattle crossing state lines. Any detection of the disease must also be reported.
Grain futures mildly pulled back from recent corrective gains during the overnight session.
Wheat futures posted followthrough to Monday’s strong gains overnight, while buying was limited in corn and soybeans.
The HRW CCI rating has declined each of the three weeks this spring, while the SRW rating has improved each week.
Weekly corn inspections for the week ended April 18 exceeded pre-report estimates by 120,000 MT, while soybeans and wheat were within expectations.
Winter wheat markets built on Friday’s corrective gains during overnight trade, while corn, soybeans and spring wheat struggled to find followthrough buying.
Marketings also dropped sharply during March.
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Corn, soybean and wheat futures are expected to open firmer amid corrective buying.
Corn, soybeans and wheat posted corrective gains during the overnight session.
Creighton University’s survey finds bankers remain pessimistic on economic outlook.
The 90-day outlook calls for above-normal temps over most areas of the country, with “equal chances” of rainfall over most of the Corn Belt.
Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.