News
As a result of tighter global exportable supplies and higher industrial consumption, soybean oil as a percentage of global vegetable oil consumption is forecast to fall below 30% in 2022-23.
Cash corn prices showed little change over the past week; soybean prices weakened.
Cash cattle prices reached an all-time high. Choice beef prices also surged, but are still far from their peak.
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Wheat futures are expected to lead price gains amid HRW crop concerns and on support from outside markets.
Corn and wheat futures rebounded from Tuesday’s losses overnight, while soybeans pulled back from yesterday’s gains.
IMF expects global growth of 2.8% this year and 3% in 2024, slightly below its forecasts published in January.