Pro Farmer
Corn and soybeans are posting solid gains amid corrective trade ahead of Monday’s reports.
Corrective strength was featured across the grain and soy markets overnight.
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.
Biodiesel makers warn of industry collapse without immediate tax credit extension.
Consolidation was featured across the grain and soy markets overnight following recent heavy selling pressure.
Each notched weekly declines, though soybean sales were up notably from the four-week average, while corn sales dipped modestly.
U.S. dollar index falls to lowest level since February as President Trump eyes early Fed chair announcement.
Basis modestly improved for soybeans and wheat amid the sharp cash price declines.
USDA keeps food price outlook unchanged.