Tony Dreibus

1 week ago | agriculture.com | Tony Dreibus

Soybean and grain futures were little changed overnight as planting in the U.S. heads into the homestretch amid mixed global weather conditions. About 76% of U.S. soybeans were planted as of Sunday, up from 66% the previous week and well ahead of the prior five-year average of 68%, the Department of Agriculture said in a report earlier this week. Half of the crop had emerged versus 34% the week prior and the average of 40% for this time of year.

1 week ago | agriculture.com | Tony Dreibus

Corn futures were lower in overnight trading amid increasing estimates for Brazil's crop and as U.S. planting nears completion. Brazilian consultancy Datagro raised its forecast for production to 132.7 million metric tons, up 0.7% from the previous estimate. If realized, that would be a 12% increase from the previous year's crop. The U.S. Department of Agriculture earlier this month forecast output in the South American country to 130 million metric tons.

1 week ago | agriculture.com | Tony Dreibus

Fifty percent of U.S. winter wheat was in good or excellent condition as of Sunday, down from 52% seven days earlier, the Department of Agriculture said in a report that was delayed a day due to Memorial Day. Forty-six percent of wheat in Oklahoma, the second-biggest producer of winter varieties behind only Kansas, earned top ratings as of Sunday, plunging from 56% the previous week, the agency said. About 48% of the crop in Kansas was good or excellent, down a percentage point on a weekly basis.

1 week ago | agriculture.com | Tony Dreibus

Wheat futures plunged in overnight trading amid favorable weather in several global growing areas including the U.S. southern Plains. Storms are expected to roll thorough parts of the Oklahoma and Texas panhandles where hard-red winter wheat is growing this afternoon and early evening, the National Weather Service said in a report early this morning. More storms are forecast overnight into tomorrow, the agency said. There's a low chance for quarter-sized hail and winds gusting up to 60 mph.

1 week ago | agriculture.com | Tony Dreibus

Grain and soybean trading will be closed Monday for the Memorial Day Holiday. Trading on the Chicago Board of Trade is scheduled to resume for the overnight session. Money managers raised their net-short positions, or bets on lower prices, on corn last week while reducing their bullish bet on beans, according to data from the Commodity Futures Trading Commission. Investors were short by a net-95,483 futures contracts in corn in the seven days that ended on May 20, the agency said.