News
A shift in farmers’ expectations regarding the Fed’s future interest rate policy was a key factor in the improved sentiment.
While the wheat crops in Oklahoma, Colorado and Montana showed modest improvement, the other states declined.
Weekly corn inspections topped pre-report estimates of 1.35 MMT for week ended April 27, while wheat was near the top-end pre-report range and soybeans mid-range.
Wheat futures opened the week under heavy pressure after the best rains across Plains HRW areas last week.
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Corn and wheat are expected to open under pressure, while soybeans are called mildly firmer this morning.
Short-term trends turn bearish for grain and soy futures.
Wheat futures faced pressure overnight, while corn was mostly weaker and soybeans favored the upside.
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Davis Michaelsen and Editor Brian Grete discuss this week’s market action...