News
USDA raised its corn, soybean and cotton crop estimates, pushing up projected ending stocks. Wheat ending stocks also increased.
House censures Rep. Tlaib | U.S. ag trade deficit | More HPAI in Iowa | CR, Ukraine aid differences
Soybeans led corn and wheat higher overnight on early reports of large export sales that were confirmed this morning by USDA.
Soybean futures posted strong gains overnight on talk of big Chinese purchases, while corn and wheat followed to the upside.
Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.
Falling pork prices may push China back into deflation | IMF boosts China’s GDP forecasts
Corn favored the downside overnight, soybeans reversed early losses and went into the break on session highs and wheat favored the downside though is well off session lows.
Soybeans pulled back from recent strong gains amid corrective selling overnight, while corn and wheat also traded lower.
Both crops remain well above year-ago levels.