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Corn, soybeans and wheat are under pressure to start the week. Livestock futures are mildly higher this morning...
Corn and soybeans favored the upside overnight, which wheat saw profit-taking following Wednesday’s big push higher.
Soybean sales rose noticeably during the week ended June 12, surpassing pre-report estimates. Corn sales rose 14% from the previous week.
Extreme heat will stress crops in the driest areas, though no extending blocking pattern is expected.
Cash corn, soybean and wheat prices are well under year-ago levels.
The Seasonal Drought Outlook shows the greatest area of risk for dryness is Nebraska, along with portions of southern South Dakota and far northern Kansas through September.
Soybean basis dropped sharply over the past week.
Wheat futures surged higher today, helping pull new-crop corn higher.
USDA is launching an $8.5 million sterile fly dispersal facility in southern Texas and unveiling a sweeping five-part plan to boost surveillance, response and eradication efforts at the border and beyond.
SCOTUS asked to rule on legality of Trump’s ‘Liberation Day’ tariffs.
Wheat saw relative strength, soybeans consolidated near recent highs and corn saw moderate weakness overnight.