June hogs fell $1.95 today and settled out at $95.80...
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Back to ReportsMost heavily traded grain contracts at settlement...
Wheat market fell off on news that Russia's crop condition is improving and production estimates raised...
May CORN: up 0¼ cent to $4.64½
May SOYBEANS: down 2½ cents to $10.07¼
May WHEAT: down 10 cents to $5.48¼
REUTERS: Russian grain consultancy IKAR has just raised its 2025 wheat crop forecast for Russia to 82.5 million metric tons. That is up 1.5 MMT from their previous outlook. Improving winter weather in southern and central regions are cited as the reason for the boost
REUTERS: AgRural has cut their forecast for Brazil's 202/25 soybean crop from 168.2 million tons down to 165.9 million tons. Most of that lowered revision is pinned on drought in the Rio Grande do Sul state where hot and dry weather has persisted
at midday we see prices lower with winter wheat leading the charge. Rains coming into dry parts of Texas and talks of a new Black Sea agreement are pressuring wheat prices
Not a bad export inspections report at all. Corn and soybeans both in the upper end of expectations, though corn totals were down from last week. Wheat exceeds expectations for the 2nd straight week while narrowly missing out on matching last week's lofty total
Most corn growing areas are expected to see moisture but northern Mexico is expected to add to drought conditions over the next 10 days which needs to be watched because this could lead to added corn demand down the road
At the pause
As expected, the markets are starting the week lower in anticipation of the upcoming planting and stocks reports next Monday
May CORN: down 2 cents to $4.62¼
May SOYBEANS: down 3¼ cents to $10.06½
May WHEAT: down 7 cents to $5.51¼
