Agriculture News
The smaller-than-normal rise in frozen meat stocks came despite hefty monthly increases in beef and pork production, implying demand was strong and outpaced supplies.
Drought conditions expanded and intensified in HRW areas of the Plains over the past week.
Weekly export sales data through week ended Sept. 15 revealed corn export sales for the week continued to fall behind year-ago levels by 50%, while soybeans remained steadily ahead.
Winter wheat markets and corn futures are mildly favoring the downside after two-sided trade overnight, while soybeans and spring wheat are mixed.
Boxed beef, pork cutout prices facing heavy pressure.
Fed appears willing to risk a recession as it tries to tame inflation.
Wheat futures led a round of followthrough buying overnight as tensions between Russia and the West escalated.
Corn futures mildly built on Monday’s gains overnight, while wheat recouped a small portion of yesterday’s losses and soybeans pulled back.
Kansas City Fed finds new highs posted in Central Plains farmland values.