News
Several U.S. farm commodity groups and the American Farm Bureau Federation did not hold back in criticizing portions of the report.
Soybeans broke higher, out of the recent sideways trading range overnight.
July SRW wheat futures reached a four-week high during overnight trade.
Trump’s presence underscores mounting urgency and turmoil within the GOP ranks.
Grains led strength overnight, led by the wheat market. Soybeans lagged behind and continue to trade in a tight range.
Wheat led overnight price gains after an unexpected drop in crop ratings.
The modest declines came despite improvements in the top producers for both crops – Kansas for HRW and Illinois for SRW.
During the week ended May 15, corn inspections rose 419,000 MT from the previous week, nearly topping analysts’ pre-report range. Soybean inspections were notably short of expectations.
A discussion on a historical look at USDA’s initial WASDE projections.