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.
China cancels prior buy of U.S. corn | China walks back ambassador’s remarks on post-Soviet statehood
Grain and soy futures posted two-sided trade overnight, suggesting a rather directionless start to the daytime session.
Short-term trends turn sideways for corn, soybeans and soymeal.
Wheat futures posted mild corrective overnight, while soybeans traded mixed and corn faced followthrough selling.
Biden to announce bid for re-election | Key U.S. economic reports | Farm bill update
Davis Michaelsen and Editor Brian Grete discuss this week’s market action...
At least two vessels carrying a combined 79,150 MT of Brazilian soybeans are heading to the U.S. soon, according to shipping data.
The report data is mildly negative compared with pre-report expectations, especially placements. But the report is not bearish.
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