News
Corn and soybeans saw modest selling pressure following Thursday’s impressive gains, while wheat saw more sustained selling.
Weekly exports of upland cotton totaled 334,000 RB during the week ended Feb. 27, while net sales rose 45% to 241,500 RB. Meanwhile, corn and wheat sales were up on the week, while soybean sales slid.
Corn, soybeans and wheat built on Wednesday’s corrective gains during overnight trade.
Basis dropped for both corn and soybeans despite sharply lower cash prices.
Strengthening crop prices, positive returns in the livestock sector and expectations for receipt of disaster payments from USDA all combined to strengthen current conditions.
Corn and wheat led overnight strength as Lutnick says U.S. may walk back tariffs on Mexico, the top buyer of U.S. corn and wheat.
Trump administration signals possible tariffs relief for Canada and Mexico.
Trump talks to Congress | Ukraine signals peace talks | China targets ‘around 5%’ GDP growth | Panama Canal
Trump wasn’t bluffing despite a lot of pre-tariff doubts