Agriculture News
Front-month SRW wheat futures rallied to the highest price since early August during overnight trade, pulling corn and soybeans higher.
Soybeans firmed to near their weekly highs overnight, while corn and wheat recouped some of their declines from the three previous days.
RMI registers negative for ninth consecutive month.
During the week ended May 9, weekly pork sales totaled 21,100 MT, a marketing-year low, while soybean sales missed the pre-report range of estimates, falling 38% from the previous week. Weekly corn sales dropped 17%.
Drought covers 25% of winter wheat areas, 12% for corn and 9% for soybeans.
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.