News
Wheat futures will lead price gains in the grain and soy markets amid concerns with the HRW crop and Black Sea grain deal.
USDA’s May crop data was mostly bearish, though wheat production and ending stock estimates were notably shy of pre-report estimates, giving the wheat complex momentum to climb higher.
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Wheat futures are expected to open solidly higher, with corn and soybeans likely to be mixed with a firmer tone. Pre-report positioning will be featured this morning ahead of USDA’s May crop reports.
Corrective buying supported corn, soybean and wheat futures ahead of USDA’s May crop reports later this morning.
The Federal Reserve Bank of Kansas City reports a 10% annual boost in farmland values.
Quarterly Federal Reserve Bank survey finds continuing gains in farmland prices, favorable credit conditions.
Major blow to pork and ag sector, but Kavanaugh dissent comments could mean further challenge ahead