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USDA reported soybean and wheat export inspections of 669,566 MT and 335,444 MT, respectively; up over 165,000 MT from the previous week. While corn inspections dropped notably.
Corn and soybeans are under pressure with wheat futures mixed. Cattle futures are lower although traders foresee higher cash trade again this week. Hog futures are mostly higher to start the week.
Wheat futures are expected to open firmer, with HRW contracts likely to lead gains amid weather concerns.
EPA vehicle emissions standards rule coming Wed. | Russia comments on Ukraine grain exports
Short-term, intermediate and long-term trends are all bullish for live cattle futures.
Wheat futures traded solidly higher coming out of the extended holiday weekend, while corn favored the downside and soybeans traded mixed.
IMF/World Bank meetings | Deficit grows | EPA announcement | Biden to Ireland
Labor force participation rate highest since pandemic began
The credit could provide a major boon to biofuel products made of wastes and oils, but producers are also eyeing a big new market for corn-based ethanol.
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Markets closed tomorrow to honor Good Friday, Cargill steps lightly on Russian exports and cash cattle surges...
Senate Ag Committee to gear up action after the Easter break on new farm bill
Corn and soybeans are expected to open lower on followthrough selling from pressure overnight. Weekly soybean sales were disappointing.
USDA reported weekly sales in week ended March 30 were down 55% from the previous week and 42% from the four-week average, while corn sales rose 20% on the week, but were down 26% from the four-week average.
Corn and soybeans faced modest followthrough selling overnight, while wheat futures favored the upside in corrective trade.
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