Agriculture News
Drought improvement was seen in Texas, but conditions worsened in the Central and Northern Plains, along with areas of the Midwest.
Grain and soybean futures traded both sides of unchanged overnight, with corn weaker while soybeans and wheat are firmer this morning.
There is an expected weakening of demand over the next six to 12 months.
Corn and soybean basis continues to weaken as early harvest begins.
The latest ENSO forecast model runs by the U.S. National Oceanic and Atmospheric Administration (NOAA) suggested that La Nina may last longer than previously suggested.
Wheat futures surged overnight amid news Russia is rethinking the Ukraine grain export deal. Corn and soybeans followed wheat to the upside.
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.