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World Weather Inc. says 2022 is closely tracking 1956, which turned into a good year for crops with some record yields despite hot, dry weather in the Plains and western areas of the Midwest.
Outside markets influenced grain and livestock markets to varying degrees in volatile trade to open the week.
Soybean export inspections fell shy of expectations.
Grain and soy markets gapped higher overnight but fell from overnight highs at the open of the day session. Cattle futures are lower with feeders leading losses as lean hogs firm slightly...
USDA will update balance sheets to reflect June 1 stocks and its new-crop planted acreage estimates. USDA will also release its first all-wheat production estimate.
Short-term trends turn sideways for corn and soybeans.
Followthrough from strong overnight gains in grain/soy futures. Cattle and hogs also expected to open higher. Outside markets could curb buying in grain/livestock markets.
President Biden: No decision yet on rolling back China import tariffs
Corn, soybean and wheat futures gapped sharply higher at the start of overnight trade. While prices remain sharply higher, futures are trading low range this morning.
U.S. tariffs on China | Biden to Mideast | Legislative push on must-have items
Grain markets roar back from sharp post-holiday losses, corn, soybeans post weekly gains amid Midwest drier forecast.