Agriculture News
The CCI rating has dropped for eight straight weeks for corn; five consecutive weekly declines for soybeans.
Sep. 1 marks the calendar for a new marketing year. Corn and soybean inspections make a notable start; ahead of last year.
Short-term trend turns from bullish to sideways for soybeans.
Corn, soybean and wheat futures are trading near session lows this morning amid a varied price tone coming out of the extended holiday weekend.
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Corn, soybeans and wheat bounced back from recent losses in a round of corrective buying overnight that was triggered by outside markets.
Cash hog prices start their seasonal decline with sharp losses.
Spotty, heavy rain fell across the Midwest this week, leading to a mix of drought improvement and deterioration.
Corn and soybeans faced followthrough selling overnight while wheat retreated from Wednesday’s gains amid pressure from outside markets and building global recessionary concerns.
Results of Mid-Year Snapshot Survey by Illinois Society of Professional Farm Managers and Rural Appraisers
USDA raised its forecasts for ag exports and imports in fiscal year (FY) 2022. The initial forecast for FY 2023 projects ag exports will decline $2.5 billion and imports will rise another $5 billion.
Corn, soybean and wheat futures built on Tuesday’s losses during overnight trade.
Corn and wheat futures pulled back from Monday’s gains overnight, while the soybean market faced followthrough selling.
The corn CCI rating is the lowest for late August since 2013.
Weekly export inspections for week ended August 25, 2022 revealed mid-range inspections for corn and wheat, while soybeans fell short of trade expectations.
Short-term trend turns bearish for lean hog futures.
Corn futures extended last week’s gains overnight, while soybeans and wheat traded lower.
Pro Farmer estimates the U.S. corn crop at 13.759 billion bu. with an average yield of 168.1 bu. per acre. We estimate the U.S. soybean crop at 4.535 billion bu. on a national average yield of 51.7 bu. per acre.
Day 4 comments and observations from Brent Judisch on the western leg of the Pro Farmer Crop Tour.