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Fed chief Powell warns soft landing ‘won’t be easy’ and does not rule out higher rate hikes
Spring wheat futures built on Thursday’s limit-up performance overnight, while corn and soybeans also traded higher. Winter wheat futures eased a bit from yesterday’s strong gains.
New-crop corn futures rally after USDA cuts U.S. yield estimate; wheat surge on tighter supplies.
Based on U.S. Drought Monitor data as of May 10, 68% of the U.S. winter wheat crop area was experiencing drought, down one percentage point from the previous week.
Wheat futures rocketed higher on the bullish report data.
USDA also expects a drop in 2022-23 global wheat production and supplies.
China buys more U.S. corn | EWG says crop insurance needs reformed | FTC update
Grain, soybean futures mixed to weaker as trade awaits USDA Supply and Demand update.
USDA will release key data this morning, Russia expects robust wheat exports and IEA assures global oil output will remain strong...