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Corn, soybean and wheat futures traded mildly higher on corrective buying during overnight trade.
Both Scott and Thompson criticized the idea of excluding larger farms from farm bill programs, pointing out that these farms account for nearly 90% of U.S. ag production.
10-state snapshot of rural economies finds steady improvement but growing concerns.
Above-normal precip is expected over the eastern two-thirds of the Corn Belt during the June through August period. There are ‘equal chances’ for temps over the Corn Belt during the period.
Grain and soy markets are expected to open sharply lower amid followthrough selling.
In week ended May 11 corn and wheat marked new marketing year lows with net reductions of 339,000 MT and 42,100 MT, respectively. Weekly soybean sales were down 73% from the week prior and 89% from the four-week average.
Wheat futures posted sharp losses overnight amid followthrough selling, while corn and soybeans faced lesser selling pressure.
Debt-limit talks | Black Sea grain pact extended 60 days | Farm policy updates
