Agriculture News
Weekly corn sales during the week ended May 30, rose 46% from the previous week and 41% from the four-week average. Meanwhile, new-crop wheat sales topped pre-report expectations by 117,000 MT.
Wheat futures recouped some of last week’s losses during the overnight session, while corn and soybeans extended their recent declines.
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Weekly soybean sales during the week ended May 23 rose 18% from the previous week, though exports for the week slipped to a marketing-year low of 208,400 MT.
Corn, soybeans and wheat recouped some of the losses from earlier this week during the overnight session.
Cash corn prices firm a little, while soybean prices ease.
USDA estimated drought covered 5% of corn production areas and 3% for soybeans as of May 28.
Wheat futures faced active followthrough selling overnight, while corn and soybeans favored the downside in two-sided trade.
Basis firmed for corn and soybeans as cash prices dropped.
Corn, soybeans and the winter wheat markets mildly favored the downside overnight.
HRW crop continues modest late-season improvement, while SRW crop is declining ahead of harvest.