News
Soybeans are expected to open with a weaker tone after price pressure overnight. Corn and wheat may receive some support from a sharp drop in the dollar.
USDA made limited revisions to its balance sheets this month, as expected.
USDA’s March WASDE showed corn domestic and global ending stocks above pre-report estimates, while soybeans and wheat were each slightly lower than expectations.
Focus of USDA’s WASDE on South American crops, especially Argentine soybeans
Light price action is likely this morning as traders await USDA’s Supply & Demand Report.
Corn, soybeans and wheat faced light selling pressure during a relatively quiet overnight session.
Letter stresses production agriculture, Title I, and importance of funding farm safety net