Agriculture News
USDA estimates there were 91.9 million head of cattle in the U.S. as of Jan. 1, down 1.9 million head (2.0%) from year-ago and 762,000 head less than the average pre-report estimate implied.
![“Asian exporters are paying premium shipping rates, sometimes 10 times what the rate is for going from the [United] States back to Asia, and this shipping rate disparity incentivizes sending back those empty containers,” Borror said.](https://assets.farmjournal.com/dims4/default/92c7bcd/2147483647/strip/true/crop/840x561+0+19/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2021-02%2FExport-ship-840.jpg)
Short-, intermediate and long-term trends are up for corn and soybeans.
Soybean futures posted another round of contract highs overnight, with the front-month contract reaching the highest level since June 2021 on the continuation chart. Corn and wheat followed soybeans higher.
USDA’s Cattle Inventory Report at 2 p.m. CT is expected to show the U.S. cattle herd as of Jan. 1 contracted 1.2% from year-ago.
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Old-crop soybean futures led price gains across the grain and soy complex and posted new contract highs overnight.
Dry/drought conditions in HRW get worse
Wheat, corn export sales above market expectations