News
Ratings for both crops remain well below year-ago.
Weekly corn inspections totaled 1.83 MMT during the week ended April 10, up 215,540 MT from the previous week, while wheat inspections rose 269,373 MT.
Broader market focus on ever-shifting tariff news keeps risk aversion elevated
Soybeans are mildly firmer with wheat futures under pressure and corn narrowly mixed. Livestock futures are higher to start the week...
Wheat futures led weakness overnight with corn following to the downside.
Short-term trend turns more positive for most grain and soy futures.
Corn, soybeans and wheat faced pressure in most contracts during the overnight session.
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Corn, soybeans and wheat each showed resilient strength overnight with wheat rebounding from yesterday’s weakness and posting the strongest gains.
NGFA analysis: ‘When U.S. uses trade policy to restrict agricultural exports, U.S. agriculture pays the price’ | Impacts of a declining U.S. dollar
Corn, soybeans and wheat traded on both sides of unchanged overnight but are higher and near their session highs this morning, despite the escalating U.S./China tariffs war.
The plunge in the U.S. dollar to the lowest since April 2022 has far-reaching implications, including good and bad impacts for agriculture.
Markets showed a relatively muted response to the report data.
Corn ending stocks for 2024-25 were lowered to 1.465 billion bu., notably lower than the average pre-report estimate of 1.510. Soybean ending stocks were pegged at 375 million bu., 4 million bu. below the average pre-report estimate.
USDA estimated 32% of the U.S. winter wheat crop was experiencing D1-D4 drought conditions.
Some U.S. farmers link new farm bill as must-pass goal for a much-improved safety net to deal with trade war and other woes | CPI report: Core inflation at 4-year low
Corn, soybeans and wheat each favored the upside in followthrough buying overnight.