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After the Bell | June 13, 2024

Cash wheat prices retreat.

Agritech startups struggle | U.S. jobless claims surge | Farm bill deadline | • Avian influenza on third dairy farm in northwest Iowa

Corn futures led strength overnight, pulling wheat higher. Soybeans pivoted near unchanged most of the overnight session, though showed strength into the break.

While falling short of pre-report expectations, both wheat and soymeal sales are running well ahead of year-ago. Meanwhile, soybean sales jumped 99% from the previous week and corn sales declined 11%.

Corn, soybeans and wheat traded on both sides of unchanged while holding in tight trading ranges overnight.

Monthly Rural Mainstreet Index finds record low banker pessimism.