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The U.S. cattle herd was 0.1% bigger than year-ago as of June 1, whereas traders expected a 0.7% decline.

Corn, soybean and wheat futures firmed amid corrective buying during the overnight session as traders await USDA’s reports later this morning.

After the Bell |June 29, 2023

Drought now covers 70% of corn areas and 63% of soybeans.

CBO releases new budget, USMCA members to hold regular confab and the U.S. hog herd is expected to shrink...

With Congress out, good time to size up new farm bill prospects

Corn, soybean and winter wheat futures are expected to open mildly weaker, though selling should be more subdued than price action over the past week.

USDA’s weekly export data for week ended June 22, showed net sales for corn, soybeans and wheat within their respective ranges, but near low-end expectations.

Corn, soybeans and wheat posted two-sided trade overnight as markets calmed from recent volatile price action.