Agriculture News
But exports of the oilseed hit a marketing-year low.
Cash wheat prices firm, though HRS values ease from their elevated levels.
Corn and soybean basis continues to slide, but cash prices for both rose this week.
The data is also expected to remind of the thin supply cushion for both crops.
The statistics agency also cut its soybean export forecast by 3.3 MMT and warned further cuts could be coming.
Soybean ratings did not improve in response. Find more highlights from today’s Crop Progress and Condition Report here.
The spring wheat CCI rating improved again, likely due to the poorer acres being hayed/abandoned or already harvested.
Pro Farmer policy analyst Jim Wiesemeyer and host Chip Flory discuss the highlights of last week in D.C. and look ahead to key votes and policy issues that matter most to farmers and ranchers.
“The Well, the Wealthy, and the Worried are the folks who think they can afford to overlook the incredible benefits of GMOs,” writes Bill Horan, an Iowa farmer, in this guest post.
Tyson Foods Inc. reported stronger-than-expected earnings for the third quarter, but the company says it cannot increase prices for chicken and prepared foods fast enough to keep pace with rising raw material prices
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Corn inspections were more than halved compared with the week prior, with inspections coming up well short of expectations. Soybean inspections were also light and near the lower end of expectations.
USDA’s finds U.S. cropland values reach new high.
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IHS Markit Agribusiness and Linn & Associations estimated the U.S. corn crop will yield an average of 176.5 bu. and 176.16 bu. per acre, respectively.
Conditions were mixed for the Midwest the week ending Aug. 3, with heavy precipitation again favoring southern and eastern areas of the Midwest, with little to no rain in the Upper Midwest.
Old-crop sales of the grain were light, but in line with expectations. Wheat sales fell short of expectations. Soybean sales were in line with expectations, with new-crop business perking up a bit.
The ag economy barometer stabilized at levels similar to where it stood for much of 2017 through 2019.