Agriculture News
Cash soybean meal prices surge above $400 but are still slightly below year-ago.
Soybean basis slips but remains well above the three-year average.
The U.S. hog herd is expected to be 2.9% smaller than year-ago as of Dec. 1.
Price action in grain and soy futures was relatively quiet in two-sided trade overnight.
Soybean and wheat export inspections each declined mildly from week-ago.
Corn, soybean and wheat futures were unable to sustain initial strength overnight and are trading near session lows this morning as the overall marketplace adopted a general risk-off stance.
Creighton University’s RMI shows strong rural economy
Access this week’s newsletter here.
Soybeans and wheat found mild followthrough buying overnight, while buying was restricted in corn and spring wheat.
The National Weather Service’s (NWS) 90-day forecast offers little hope for improvement in conditions of the HRW crop through winter.
53% of the winter wheat crop remains in drought
Weekly corn and wheat export sales hit marketing year high
Soy complex futures strengthened overnight after initially trading lower, which supported corn. Wheat futures tried to rebound from Wednesday’s sharp losses, but buyer interest proved limited.
Corn and soybean basis dropped over the past week but remains above futures.
U.S. central bank ditches its “transitory” mantra for a hawkish tone.
Selling in the wheat market overnight pulled corn lower, while soybeans were supported by strength in soymeal.
Annual ISU survey finds an average acre of Iowa farmland rocketed 29% in 2021.
Corn, soybean and wheat futures are mildly weaker this morning as a quietly traded overnight session winds down.