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USDA will update balance sheets to reflect June 1 stocks and its new-crop planted acreage estimates. USDA will also release its first all-wheat production estimate.
Short-term trends turn sideways for corn and soybeans.
Followthrough from strong overnight gains in grain/soy futures. Cattle and hogs also expected to open higher. Outside markets could curb buying in grain/livestock markets.
President Biden: No decision yet on rolling back China import tariffs
Corn, soybean and wheat futures gapped sharply higher at the start of overnight trade. While prices remain sharply higher, futures are trading low range this morning.
U.S. tariffs on China | Biden to Mideast | Legislative push on must-have items
Grain markets roar back from sharp post-holiday losses, corn, soybeans post weekly gains amid Midwest drier forecast.
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Indonesia will increase palm oil in bio-diesel, Biden will discuss China tariffs with advisers and the U.N. reports Global food price decline...
Wheat futures climb to highs for week; corn, soybeans expected firmer on Midwest dryness.
Wheat futures jump sharply to lead grains, soy complex higher as markets continue corrective bounce from recent slump.
Payrolls increased 372,000 in June, more than expected | Biden to head China tariff meeting
Corn and wheat futures built on Thursday’s strong corrective gains during overnight trade. Soybeans traded higher initially but failed to sustain the firmer tone.
Cash prices for corn, soybeans and wheat plunged over the past week.
USDA estimates the drought footprint at 29% for corn (up six points from last week), 22% for soybeans (up seven points), 19% for spring wheat (unchanged) and 68% for cotton (up seven points).
Shanghai citizens subject to mass COVID testing, copper falls to lowest price since late 2020 and the Treasury Department investigates insurer’s exposure to climate risk...
Dem leaders make progress on another reconciliation package
Grain, soybean futures expected higher after surging overnight amid corrective buying.
Corn, soybean and wheat futures traded sharply higher overnight as markets rebounded from recent hefty losses.