Agriculture News
Most farmers don’t need an incentive to do the right thing, says guest blogger Gabriel Carballal.
Frozen beef stocks dropped 4.3% during June whereas they typically hold near steady for the period.
Cash prices generally strengthened for grains, soybeans.
“Active weather prevailed across much of the South, East, and Midwest, as well as parts of the Plains, into the middle of July, followed by a southward shift in widespread shower activity,” today’s report says.
On the other hand, wheat sales climbed in the face of rising futures prices, with USDA also reporting a small but unexpected sale for 2022-23.
Corn and soybean basis remain much stronger than normal.
Given last year’s pandemic-related disruptions to the cattle herd, the data could receive more market attention than it typically does, with traders likely to take particular note of USDA’s calf crop estimate.
On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels.
The Biden administration has delayed its annual rulemaking process regarding its biofuel blending mandates under the Renewable Fuel Standard (RFS) for 2021 (2022 for biodiesel), Reuters says in an exclusive report.
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Find highlights from today’s Crop Progress and Condition Report.
The spring wheat CCI rating is now 38.1% below the five-year average for this date.
Pro Farmer Washington Analyst Jim Wiesemeyer and host Chip Flory discuss the highlights of last week in D.C.
Export inspections of corn, soybeans and wheat were all in line with expectations, with the corn tally holding above 1 MMT and wheat inspections nearing 500,000 MT. Soybean futures were light, as expected.
Corn and wheat futures are higher with weakness in the soy oil market limiting buyer interest in soybeans. Cattle futures are under pressure with lean hogs mixed.
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The data signals USDA is likely too high with its soy crush forecast.
Monthly economic condition survey finds continuing strong growth in rural areas of the Midwest.
The central and eastern Corn Belt was a battleground of sorts, with some locations seeing improvement with this week’s heavy rainfall, while other locations missed out,” today’s Drought Summary said.