Agriculture News
In the wake of the heavy flooding in the northwestern Corn Belt, there have been a lot of questions about USDA’s methodology for assessing crop conditions. We’ve got the answer.
Frozen meat stocks data suggests demand didn’t keep pace with supplies during May.
Corn, soybeans and wheat traded higher at points overnight but have adopted a mostly weaker tone this morning.
Weekly soybean inspections during the week ended June 20, rose modestly on the week and were near the upper end of the pre-report range, while corn and wheat inspections each declined from the previous week.
Soybeans mildly firmed overnight, while corn and wheat failed to stray far from unchanged in two-sided trade.
Monthly rural banker attitude survey reflects negative outlook.
Data wasn’t negative enough to have much market impact.
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USDA reported corn sales of 511,400 MT for the week ended June 13, the lowest since the week ended April 11, though exports totaled 1.48 MMT during the week. Meanwhile, wheat and soyoil sales each topped expectations.
Corn, soybeans and wheat posted mild corrective gains overnight, recouping a small portion of Thursday’s sharp losses.
