News
Grain and soy markets are expected to favor the downside this morning, though corn could find some support from daily export sales to China.
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.
Traders expected USDA to cut its corn and soybean ending stocks forecasts after March 1 stocks came in lower than anticipated.