News
Grains saw relative strength overnight as crop conditions for corn, spring wheat and winter wheat were all below expectations.
Grain traders mostly focused on weather, but trade happenings remain on the radar.
May 1 feedlot inventory declined 1.5% from year-ago, as expected.
Part of the increase in pork stocks tied to a big downward revision to March inventories.
Cattle and wheat saw relative strength today despite the weakness seen in the general marketplace.
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Corn, soybeans and wheat each saw modest losses most of the overnight session though selling efforts accelerated in corn and beans following this morning’s posts from President Trump regarding EU tariffs.
U.S. to tell EU its offer falls short of administration’s demands.
Corn, soybeans and wheat poised to post strong weekly gains.
Several U.S. farm commodity groups and the American Farm Bureau Federation did not hold back in criticizing portions of the report.
Soybeans and cattle saw relative strength today, breaking out of recent sideways ranges.