Agriculture News
USDA estimates the U.S. hog herd at 74.201 million head as of Dec. 1, down 3.111 million head (4.0%) from last year.
Soybean basis slips but remains well above the three-year average.
The U.S. hog herd is expected to be 2.9% smaller than year-ago as of Dec. 1.
Price action in grain and soy futures was relatively quiet in two-sided trade overnight.
Soybean and wheat export inspections each declined mildly from week-ago.
Corn, soybean and wheat futures were unable to sustain initial strength overnight and are trading near session lows this morning as the overall marketplace adopted a general risk-off stance.
Creighton University’s RMI shows strong rural economy
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Soybeans and wheat found mild followthrough buying overnight, while buying was restricted in corn and spring wheat.
The National Weather Service’s (NWS) 90-day forecast offers little hope for improvement in conditions of the HRW crop through winter.