May 30, 2023
Corn and soybeans are declining in the United States

Corn and soybeans are declining in the United States reported that soybeans fell in overnight trading after soybeans recorded double-digit gains in July and reached new contract highs during trading on Wednesday. In the first seven days of June, Ukraine’s grain exports fell by almost half to 252,000 tonnes compared to the same period in 2021, according to data from the Ministry of Agriculture on Thursday.

The Kremlin said on Thursday that no agreement had been reached with Turkey on Ukrainian grain exports via the Black Sea. Traders will keep an eye on USDA global agricultural supply and demand (WASDE) estimates and agricultural production reports released on Friday. The trade estimates for the USDA’s weekly wholesale export sales report are 200,000 to 900,000 metric tons for maize and 300,000 to 1,200,000 metric tons for soybeans, according to Clues Commodities’ Al Cluise.

“Will USDA make another early-season production adjustment? The decline in maize yields in the May report came as a surprise. Should we adjust that number based on crop improvement reports? ”Chloez asks.

July corn fell 6 cents to $ 7.62 in the overnight trading range. July soybeans fell 13 cents to $ 17.36 in the trading range. On Wednesday the futures futures closed mixed. The June Lean Hawks were down 57 cents at $ 107.85. June Live Livestock closed at $ 3.10 to $ 136.82. August fat cattle closed at $ 3.20 to $ 175.65.