Agriculture News
USDA raised its forecasts for ag exports and imports in fiscal year (FY) 2022. The initial forecast for FY 2023 projects ag exports will decline $2.5 billion and imports will rise another $5 billion.
Corn, soybean and wheat futures built on Tuesday’s losses during overnight trade.
Corn and wheat futures pulled back from Monday’s gains overnight, while the soybean market faced followthrough selling.
The corn CCI rating is the lowest for late August since 2013.
Weekly export inspections for week ended August 25, 2022 revealed mid-range inspections for corn and wheat, while soybeans fell short of trade expectations.
Short-term trend turns bearish for lean hog futures.
Corn futures extended last week’s gains overnight, while soybeans and wheat traded lower.
Pro Farmer estimates the U.S. corn crop at 13.759 billion bu. with an average yield of 168.1 bu. per acre. We estimate the U.S. soybean crop at 4.535 billion bu. on a national average yield of 51.7 bu. per acre.
Day 4 comments and observations from Brent Judisch on the western leg of the Pro Farmer Crop Tour.
Day 4 comments and observations from Emily Carolan on the eastern and western leg of the Pro Farmer Crop Tour.