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Corn is hitting new lows for the month, with soybeans also under pressure. Sellers continue to dominate lean hog market and limits expand ahead of USDA’s weekly export sales update and its Quarterly Hogs & Pigs Report.
After the Bell | June 22, 2021 Spring wheat futures rallyon crop ratings slide, Midwest weather outlook burdens corn and soybeans.
Frozen pork stocks stood at 461.14 million lbs. at the end of May, which was a 4.22-million-lb. (0.9%) build from April versus the usual 34-million-lb.-retreat for the month.
More than a year later, we need to get back to normal because we need to start repairing 15 months of broken connections, writes Cherilyn Jolly-Nagel with Global Farmer Network.
Ahead of the Open | June 22, 2021 Spring wheat futures seen up sharply on crop rating plunge, corn and soybeans weaker on Midwest weather.
Spring wheat soars amid a dive in condition ratings. Cordonnier sticks with his U.S. crop estimates, but he cut Brazil’s corn crop. Farm-state lawmakers want biofuel provisions to be wrapped into infrastructure package.
Spring wheat ratings plummeted, and corn came in lower than expected. Find more highlights from today’s weekly Crop Progress and Condition Report here.
The spring wheat CCI rating is now 91.1 points below its five-year average.
After the Bell | June 21, 2021 Soybean futures rally on China purchases, corn lower on Midwest rains, hogs extend slide.
Refinitiv Commodities Research says trade flow data signals China will likely import 11.6 MMT of soybeans during June, which would be an all-time monthly high.
Find more updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.