Pro Farmer
Corn, soybeans and wheat traded on both sides of unchanged in a relatively light overnight session as traders await USDA’s reports later this morning.
This is historically the most volatile trading day of the year.
All three markets are poised for sharp losses for the week.
Diesel prices climb back above $3.00.
Combination of slightly bigger-than-expected spring pig crop and revisions to market hog inventories from the previous two quarters pushed the June 1 hog herd up 0.3% from year-ago.
Export taxes are set to revert back to pre-cut levels on July 1.
Wheat continues to lead weakness ahead of Monday’s reports
Soymeal continues to sink to multi-year lows.
Cattle saw modest strength today.
The driest areas of the Corn Belt are Nebraska and South Dakota.