Agriculture News
Wheat rebounded from yesterday’s losses overnight, pulling corn and soybean futures modestly higher.
Basis weakened slightly for corn, soybeans and wheat.
Corn, soybeans and wheat rebounded from Tuesday’s losses during the overnight session, led by gains in wheat.
Corn futures extended recent gains overnight, while soybeans and wheat eased after earlier attempts at the upside.
The HRW crop improved despite a drop in the Kansas crop.
Soybean export inspections during the week ended May 9 reached 406,000 MT, above the expected pre-report range and up 48,000 MT from the previous week. Corn and wheat inspections were as expected.
Corn and soybeans modestly pulled back from Friday’s strong gains during the overnight session, while wheat traded mixed.
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Grain futures extended gains after the report, while cotton increased losses.
Kansas City Federal Reserve finds rising farmland values despite a weakening farm economy.