Agriculture News
Wheat sales for the week ended Aug. 28 were down 46% from the previous week and 51% from the four-week average. New-crop corn sales were strong, while net soybean sales were near the low end of pre-report expectations.
Conditions declined but still remain stronger than last year
Monthly survey of bankers finds growing pessimism
The team dives into the Crop Tour results, what moved the markets last week and what to watch out for this week.
USDA reported weekly wheat inspections totaled 946,472 MT for the week ended Aug. 21, which were more than double the previous week and well above pre-report expectations.
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Pro Farmer estimates the U.S. corn crop at 16.204 billion bu. using an average yield of 182.7 bu. per acre. We estimate the U.S. soybean crop at 4.246 billion bu. at an average of 53 bu. per acre.
Tour records were discovered in both Minnesota and Iowa.