Evening Report | Aug. 24, 2021

USDA makes long-awaited adjustments to CFAP 2 for livestock and poultry contract growers. Pelosi, moderates reach budget deal.

USDA makes long-awaited adjustments to CFAP 2 for livestock and poultry contract growers

USDA announced today that it is updating the Coronavirus Food Assistance Program 2 (CFAP 2) for contract producers of eligible livestock and poultry and producers of specialty crops and other sales-based commodities.

First Thing Today | Aug. 24, 2021

Corn, soybean CCI ratings continue to decline. Worries about what another La Nina-plagued growing season might mean for South America. Some Senate Republicans urge EPA to set 2021, 2022 RVOs below ethanol "blend wall."

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Corn and soybean ratings continue to slide

But cotton ratings shot higher once more as Texas continues to receive rain.

beef at the grocery store
Negligible month-to-month change in frozen stocks of beef and pork

There were 401.26 million lbs. of beef in the nation’s freezers at the end of July, just a 256,000-MT decline from the end of June versus the five-year average increase of 23.6 million lbs. for the month.

Evening Report | Aug. 23, 2021

Highlights from USDA's latest Crop Progress and Condition update. AgRural reports early 2021-22 corn planting is underway in Brazil. Negligible month-to-month change in frozen stocks of beef and pork.

10:30 a.m. Market Snapshot | Aug. 23, 2021

Your midmorning update on commodity market action.

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Strong wheat export inspections

USDA also revised last week’s tally a substantial, 120,000 MT higher. Shipments of corn and soybeans were in line with expectations.