Corn: 3 to 4 lower
Soybeans: 5 to 10 lower
Yesterday May corn closed 1/4 lower, while the May soybean contract closed 21 1/2 higher. Even though the corn market posted a flat close yesterday, the news for the corn market is universally negative. The soybean market was once again pulled higher by the market for soybean meal. This morning though the soybean market is trading lower as the soybean and meal markets have become overbought.
The US dollar continues to gain vs Brazil's real, which along with higher soybean futures has pushed price to Brazil's farmers to all time high levels in their currency, and boosting farm selling.
This Thursday morning, DTN will be hosting a webinar entitled:
Farming through Covid-19: Managing labor and employees during the pandemic.
This will be hosted by Lori Culler, founder of Ag Hires and DTN’s “Ag HR Coach”.
Chris Clayton, DTN Ag policy editor, will give an update on specific policies that affect agribusinesses throughout this time.
To register, click on this link: register today