Agriculture News
The surge in consumer prices came a day after data showed producer prices also jumped sharply in October.
Corn futures extended their gains but failed to clear yesterday’s highs. Wheat futures were mostly firmer overnight
Projected U.S. ending soybean stocks up less than expected.
USDA lowered its soybean crop by 23 million bu., whereas traders expected a 36-million-bu. increase.
Spring wheat futures led overnight gains in light trade ahead of USDA’s November crop reports later this morning.
The HRW rating is well below the five-year average, while the SRW rating is still above its norm for early November.
Cash market expert Angie Setzer sheds light on the local elevator and how it works.
Soybean inspections topped 2.6 MMT the week ended Nov. 4.
Grain and soy complex futures are under pressure to open the week. Live cattle futures opened weaker but have since reversed course and lean hog futures opened firmer but have turned mildly softer.
Short-term trend turns up for live cattle and sideways for hogs.
Grain and soy complex futures posted quiet, two-sided trade overnight as traders start to prepare for Tuesday’s November crop reports from USDA.
Projections of note for the 2022-23 marketing year.
The bigger crop estimate is expected to increase the 2021-22 bean ending stocks projection. But traders see corn carryover declining a little, as ethanol use is likely to rise.
Beef exports to China are up more than 700% this year, while pork shipments are down 37%.
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Corn and wheat futures are posting mild corrective gains early this morning.
Our updated monthly and quarterly forecasts, including the first outlook for second quarter 2022.
USDA says 43% of U.S. winter wheat areas are experiencing drought conditions, unchanged from the previous week.
Soybean sales totaled nearly 1.9 MMT, while corn sales topped 1.2 MMT.
As was widely expected, the Federal Reserve will begin dialing back its asset purchases by $15 billion per month, starting later in November.