News
Wheat futures are expected to open lower after price pressure overnight. Corn is called steady/firmer, while soybeans are likely to be mixed.
Weekly wheat inspections for week ended May 18, showed 407,682 MT, topping the range of expectations. Corn inspections were near the top-end of the pre-report range and up nearly 150,000 MT from the week prior.
Corn and soybeans are higher with wheat under pressure. Cattle futures open the week amid a softer tone with lean hogs firmer...
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Corn and soybeans are expected to open higher, while wheat is likely to face followthrough selling after pressure overnight.
Short-term trends turn bullish for cotton and live cattle; bearish for soymeal.
Corn and soybeans were supported by corrective buying overnight, while wheat faced followthrough selling.
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On the surface, the report data is neutral. But the underlying numbers are bullish.
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