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After the Bell | April 18, 2024

Creighton University’s survey finds bankers remain pessimistic on economic outlook.

USDA attache cuts Argy corn crop estimate, Paraguay struggles to move record crop and Thompson seeks Democrat support for the Farm Bill...

House GOP leaders mull possible rule change re: motion to vacate

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.