News
All food prices are now forecast to rise 6.5% in 2023 (range of 4.9% to 8.2%), down from an expected 7.5% increase last month.
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Grain and soy futures are expected to favor the downside after failing to sustain corrective buying overnight.
Grain and soy markets worked higher on corrective buying earlier in the overnight session, but buyer interest is drying up this morning.
The HRW CCI rating remains historically low, while the SRW rating is above average.
USDA’s export inspection data for week ended April 20, showed corn and soybeans declining notably from the previous week, while wheat inspections rose by over 100,000 MT.
Corn futures are under pressure with soybean and wheat futures mixed. Cattle futures opened lower with lean hogs mildly higher...