Agriculture News
If the forecast verifies, it suggests crop stress could develop across the western Corn Belt and persist in the Southern Plains
China continues to buy sizable quantities of U.S. old-crop soybeans, accounting for more than half of the weekly total.
Wheat and corn futures faced continued pressure from Wednesday’s losses overnight, while soybeans traded mixed.
SRW and HRW wheat basis weakens amid strong rally in cash prices.
Iowa State University survey pegs statewide average cash rent at $256 per acre.
Quarterly surveys from Federal Reserve Banks confirm strong gains in farmland values.
Wheat futures gapped higher overnight but reversed lower and are under heavy pressure this morning. Corn and soybeans also traded lower.
HRW CCI rating drops to the lowest of the year, while the SRW rating improved to its highest of the spring.
Soybean inspections continue to run stronger than normal for this time of year.
