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The 90-day outlook calls for above-normal temps over most areas of the country, with “equal chances” of rainfall over most of the Corn Belt.

Corn and soybeans saw sustained selling pressure most of the night. Wheat favored the upside for the most part, though prices turned sharply lower following this morning’s export sales report.

Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.

Corn futures mildly extended Wednesday’s losses overnight, while soybeans erased gains from yesterday. Wheat was supported by light corrective buying.

Cash rice price surges.

Corn basis continued to firm seasonally but remains below the three-year average.

The LanzaJet Inc. facility in Georgia will likely run on mostly sugarcane ethanol imported from Brazil when it starts commercial production.

After the Bell | April 17, 2024

Vilsack and USDA’s NASS get lots of questions and complaints about cutting key reports

Corn, soybeans and wheat each traded in relatively tight ranges overnight, as corn and wheat mildly favored the upside and soybeans posted modest losses.