Agriculture News
Corn and soybeans modestly pulled back from Friday’s strong gains during the overnight session, while wheat traded mixed.
Cash grain prices posted a big jump over the past week.
Corn, soybean and wheat futures faced mild followthrough selling during the overnight session.
Farmer sentiment was the weakest since June 2022 and current conditions fell to the lowest since May 2020.
The HRW CCI rating increased for the first time this spring, while the SRW CCI rating declined for the first time.
USDA reported weekly soybean inspections of 349,000 MT for the week ended May 2, which rose 73,000 MT from the previous week. Corn, soybean and wheat inspections were each within pre-report ranges.
Corn, soybeans and wheat pulled back from the strong gains late last week during the overnight session, led lower by sharp losses in the wheat market.
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Grain and soy futures are expected to open solidly higher this morning on followthrough buying.