Agriculture News
Weekly export inspections for week ended Oct. 6 reported corn, beans, and wheat within expectations, however corn and bean inspections are now notably behind last year’s, at 9.4% and 23% behind, respectively.
Corn, soybeans and wheat pulled back from Monday’s gains amid corrective selling and weakness in the crude oil market.
The 2022-23 domestic balance sheets will reflect Sept. 1 stocks and the final 2022 wheat crop estimate, along with any changes to this year’s corn, soybean and cotton crop forecasts.
Wheat futures led a price surge in the grain and soy markets overnight as escalating war concerns sparked supply concerns from the Black Sea region.
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Corn, soybean and wheat futures regained a portion of Thursday’s losses amid corrective buying overnight.
The state of Mato Grosso moved one step closer to assuming control of the project to upgrade BR-163, the so-called “soybean highway” in Brazil.
Weekly export sales data for week ended Sept. 29 proved uninspiring with corn over 120K MT short of expectations, while wheat was slightly above. Soybeans landed on the low end of pre-report estimates.
Expansion of drought will add to low water levels and shipping disruptions along the Lower Mississippi and Oho river valleys.
Corn, soybean and winter wheat futures traded lower overnight as outside markets provided price pressure.
Basis continues to fall for both corn and soybeans amid seasonal pressure during harvest and shipping problems to the Gulf given low water levels.
Scouts measured average corn yield potential of 183.81 bu. per acre. Pod counts in a 3’x3’ square averaged 1174.43.
Scouts measured average corn yield potential of 190.39 bu. per acre. Pod counts in a 3’x3’ square averaged 1100.75.
Scouts measured average corn yield potential of 190.71 bu. per acre for Illinois. Pod counts in a 3’x3’ square averaged 1249.70.
Full results for Iowa will be released tomorrow.
Kansas City and Chicago Federal Reserve Banks report farmland values rose in the second quarter but at only a moderate pace.
Scouts measured average corn yield potential of 177.85 bu. per acre. Pod counts in a 3’x3’ square averaged 1165.97.
Scouts measured average corn yield potential of 158.53 bu. per acre. Pod counts in a 3’x3’ square averaged 1063.72.