News
Grain, soybean futures expected lower on followthrough pressure, weekend rains over much of Midwest.
Corn and wheat futures worked mildly higher overnight following Thursday’s sharp losses. Soybeans extended yesterday’s sharp loses.
USDA’s Hogs & Pigs Report estimated the U.S. hog herd at 72.5 million head as of June 1, down 629,000 head (0.9%) from year-ago.
December corn sinks to four-month low after USDA raises acreage estimate; soybeans, wheat also lower.
USDA Report Reaction - Soybean plantings estimate sharply below expectations at 88.325 million acres
Estimated corn plantings raised more than expected to 89.92 million ac., all wheat acres also above expectations.
Corn acres slightly higher than trade expectations.
Global demand for biofuels to slow in decade ahead: report
New-crop corn slips near three-month low, soybeans and wheat also lower ahead of USDA reports.
Corn and wheat futures (aside from HRW) extended Wednesday’s losses overnight, while soybeans pulled back from recent gains.
Pigs kept for breeding down slightly less than analysts expected.