News
Soybeans led weakness overnight with wheat following to the downside. Corn futures favored the upside but faded to just fractionally higher into the break.
Corn, soybeans and wheat faced pressure in most contracts during the overnight session.
Access this week’s newsletter here.
Corn, soybeans and wheat each showed resilient strength overnight with wheat rebounding from yesterday’s weakness and posting the strongest gains.
NGFA analysis: ‘When U.S. uses trade policy to restrict agricultural exports, U.S. agriculture pays the price’ | Impacts of a declining U.S. dollar
Corn, soybeans and wheat traded on both sides of unchanged overnight but are higher and near their session highs this morning, despite the escalating U.S./China tariffs war.
The plunge in the U.S. dollar to the lowest since April 2022 has far-reaching implications, including good and bad impacts for agriculture.
Markets showed a relatively muted response to the report data.
Corn ending stocks for 2024-25 were lowered to 1.465 billion bu., notably lower than the average pre-report estimate of 1.510. Soybean ending stocks were pegged at 375 million bu., 4 million bu. below the average pre-report estimate.