News
Cash cattle prices have posted a record high for five consecutive weeks.
India willing to offer other ‘deep’ tariff cuts to secure trade deal.
Grains saw relative strength overnight as crop conditions for corn, spring wheat and winter wheat were all below expectations.
Soybeans mildly weakened during overnight trade.
The initial CCI ratings for corn and spring are far below year-ago levels.
Wheat inspections during the week ended May 22 rose on the week, while corn and soybean inspections each marked declines.
Wheat and corn are under pressure to open the week, while soybeans are mildly firmer coming out of the holiday weekend.
Soybeans saw relative strength overnight, wheat saw relative weakness and corn was caught in the middle.
The improvement for wheat may be short-lived as prices are under pressure to open the week.
President Trump delayed planned 50% tariffs on the EU to July 9.
Grain traders mostly focused on weather, but trade happenings remain on the radar.
May 1 feedlot inventory declined 1.5% from year-ago, as expected.
Part of the increase in pork stocks tied to a big downward revision to March inventories.
Cattle and wheat saw relative strength today despite the weakness seen in the general marketplace.
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Corn, soybeans and wheat each saw modest losses most of the overnight session though selling efforts accelerated in corn and beans following this morning’s posts from President Trump regarding EU tariffs.
U.S. to tell EU its offer falls short of administration’s demands.
Corn, soybeans and wheat poised to post strong weekly gains.