Agriculture News
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, soybeans and SRW wheat pulled back from yesterday’s gains during overnight trade, while HRW and HRS wheat extended their losses.
While falling short of pre-report expectations, both wheat and soymeal sales are running well ahead of year-ago. Meanwhile, soybean sales jumped 99% from the previous week and corn sales declined 11%.
Corn, soybeans and wheat traded on both sides of unchanged while holding in tight trading ranges overnight.
Monthly Rural Mainstreet Index finds record low banker pessimism.
Kansas City Federal Reserve highlights district ag credit conditions.
Rural Mainstreet Index slips deeper into the red.
Basis firmed for corn, soybeans and SRW wheat.
Policymakers dial back rate cut expectations.
Market focus will remain on U.S. and global weather as traders await acreage and grain stocks data at the end of June.