Agriculture News
Weekly wheat inspections for the week ended July 17 topped pre-report expectations by a notable margin, while corn inspections fell short. Both wheat and soybean inspections rose on the week.
Only 9% of corn area and 7% of beans is covered by drought.
Above-normal rainfall is expected in the far eastsern Corn Belt, Delta and Southeast through October.
SRW and HRW basis improved despite ongoing harvest.
Weekly export sales were light, especially for old-crop corn.
Corn and soybeans pulled back from recent gains overnight, while wheat also weakened.
Forecasts now signal hotter and drier conditions for late in the weekend and early next week.
After contract lows to open the week, December corn futures are working on three straight days of corrective gains.
Farm Credit Services of America’s mid-year appraisal shows values holding.
Farmers National Company highlights farmland market at mid-year
Mostly favorable conditions for summer crop development are expected to continue for at least the next 10 days.