Agriculture News
Cash corn prices rise and remain well above year-ago.
The Seasonal Drought Outlook calls for drought to develop or persist over the bulk of HRW wheat areas, while most of the Corn Belt will be drought-free.
Corn, soybeans and wheat recouped some of Wednesday’s losses during the overnight session.
Corn and soybean basis firmed despite higher cash prices.
Policymakers are watching the rollout of Trump’s economic-policy plans and how they might shape the economy.
Corn and soybean futures have firmed after light, two-sided trade overnight while wheat is choppy with an upside bias this morning.
During the week ended Feb. 13, soybean inspections declined 377,000 MT from the previous week, while wheat inspections tumbled 320,000 MT, though weekly corn inspections rose notably to 1.6 MMT, topping analysts’ pre-report range.
Grain and soy futures opened the holiday-shortened week with a firmer tone.
Corn futures rebounded from earlier losses to trade slightly higher early this morning, while soybeans and wheat are under pressure.
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Kansas City Fed Bank Reports Decline in Ag Land Sales Volume
Chicago Fed Bank Reports 1% Yearly Decline
Corn, soybeans and wheat built on Thursday’s gains during the overnight session and are trading near their session highs early this morning.
The spread of highly pathogenic avian influenza has led to significant losses in chicken flocks and caused an egg supply shortage.
Cash prices remain well above year-ago for corn, far below for soybeans.
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
Grain markets held in tight price ranges overnight, with corn and soybeans trading lower and on session lows early this morning while wheat is firmer.
Corn and soybean basis remains below average.