Agriculture News
Soybeans mildly firmed overnight, while corn and wheat failed to stray far from unchanged in two-sided trade.
Monthly rural banker attitude survey reflects negative outlook.
Data wasn’t negative enough to have much market impact.
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USDA reported corn sales of 511,400 MT for the week ended June 13, the lowest since the week ended April 11, though exports totaled 1.48 MMT during the week. Meanwhile, wheat and soyoil sales each topped expectations.
Corn, soybeans and wheat posted mild corrective gains overnight, recouping a small portion of Thursday’s sharp losses.
The Seasonal Drought Outlook calls for drought conditions to develop from southeastern Iowa and northeastern Missouri across the northern two-thirds of Illinois and most of Indiana and Ohio through September.
Corn, soybean and wheat futures faced price pressure during overnight trade coming off Wednesday’s holiday.
Wheat basis continues to firm amid plunging cash prices.