Agriculture News
The National Weather Service’s 30- and 90-day forecasts favor continued warm, dry weather for these areas.
![“Asian exporters are paying premium shipping rates, sometimes 10 times what the rate is for going from the [United] States back to Asia, and this shipping rate disparity incentivizes sending back those empty containers,” Borror said.](https://assets.farmjournal.com/dims4/default/92c7bcd/2147483647/strip/true/crop/840x561+0+19/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2021-02%2FExport-ship-840.jpg)
That said, sales of most commodities were in line with expectations and the only net sales reduction was for soyoil.
Cash hog, pork cutout prices firmed over the past week.
The U.S. economy displayed “moderate to robust growth” from late May to early July, according to today’s Beige Book released by the Federal Reserve.
“A return of La Nina could aggravate an already exceptional drought in south-central Brazil that has resulted in one of the driest periods in over 90 years,” says South American Crop Consultant Dr. Michael Cordonnier.
Livestock and poultry producers who suffered losses during the Covid-19 pandemic due to insufficient access to processing can apply for aid under USDA’s Pandemic Livestock Indemnity Program from July 20 to Sept. 17.
Highlights from today’s Crop Progress and Condition Report.
The CCI ratings for the corn and soybean crops were nearly unchanged for the week.
Chip Flory and Jim Wiesemeyer discuss beef cattle and dairy markets with an eye toward USDA Secretary Vilsack’s visit to the Omaha, Nebraska area.
USDA maintained its weather-adjusted trendline yield estimates for both corn and soybeans and incorporated its June 30 harvested acreage estimates.
Inspections for corn, soybeans and wheat were in line with expectations.
Corn soybean and spring wheat futures are mildly higher this morning. Cattle futures are mostly weaker with hog futures off to a firmer start to the week.
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Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Find expectations for USDA’s July 12 Crop Production and WASDE reports.
Drought and frost have taken a toll on the late-planted crop.
“Another week of hot, dry weather in the Pacific Northwest, Northern Rockies, Northern Plains, and Upper Midwest led to the expansion of drought conditions,” today’s National Drought Monitory summary says.
Corn and soybean basis both pull back after last week’s surge.
Quarterly survey of ag bankers finds optimism across Texas.