Agriculture News
Grain and soy complex futures were pressured overnight by outside markets and concerns about demand.
Beef stocks increased less than normal during September, though inventories were record-large for the month. Pork stocks declined contra-seasonally last month.
Weekly export inspections for week ended Oct. 20 revealed another week of sizable soybean inspections, at nearly 3 MMT, while wheat fell short of the expected range of 200,000-500,000 MT, and corn was as expected.
Grain and soy futures faced pressure from weak outside markets overnight.
All three categories matched or were close to the average pre-report estimates.
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Corn, soybean and wheat futures retreated from Thursday’s gains overnight amid renewed hopes for a Ukrainian grain export extension and pressure from outside markets.
Rural Mainstreet Index marks sixth decline in seven months.
Farm diesel prices rise to the highest level since the third week of July.
The Seasonal Drought Outlook indicates drought will persist or develop across most areas of the Plains, Delta and Southeast, though there could be some improvement in the Ohio River Valley.
There were “targeted improvements in the Southern Plains,” though none of that came in the major HRW wheat production states.