Grain prices were mixed but mostly lower amid a mostly bearish sentiment on Thursday. Soybeans incurred the biggest losses, at around 0.8%, while corn and winter wheat contracts suffered more modest setbacks. Spring wheat prices bucked the overall trend, picking up modest gains by the close.
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Later this week, most areas east of the Mississippi River will see at least some measurable moisture between Thursday and Sunday, per the latest 72-hour cumulative precipitation map from NOAA. The Mid-South and Mid Atlantic regions are likely to see the largest totals during this time. Meanwhile, NOAA’s 8-to-14-day outlook predicts drier-than-normal conditions will return to the Great Lakes region between June 1 and June 7, with seasonally cool weather likely in the Northern Plains and upper Midwest. On Wall St., the Dow trended 110 points higher in afternoon trading to 32,039 as investors digested news that the Federal Reserve may raise interest rates more than expected in an attempt to put a more aggressive pinch on inflation. Energy futures moved higher this afternoon. Crude oil firmed more than 0.5% to stay above $110 per barrel. Diesel jumped 2.5% higher, with gasoline up around 1%. The U.S. Dollar firmed moderately. On Tuesday, commodity funds were net buyers of soybeans ...
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