Agriculture News
Our updated monthly and quarterly forecasts, including the first outlook for second quarter 2022.
USDA says 43% of U.S. winter wheat areas are experiencing drought conditions, unchanged from the previous week.
Soybean sales totaled nearly 1.9 MMT, while corn sales topped 1.2 MMT.
As was widely expected, the Federal Reserve will begin dialing back its asset purchases by $15 billion per month, starting later in November.
Corn and wheat futures halted their corrective pullbacks from the two previous days overnight, but soybeans extended Wednesday’s declines.
Soybean basis firmed despite the rollover to the January contract, which is around 13 cents above November.
Spring wheat futures led gains in the grain and soy complex overnight.
Decline in the HRW crop was led by Texas, though crops in Kansas, Colorado, Nebraska and Montana also dropped.
Chip Flory and Jim Wiesemeyer recap last week’s Day of Ethanol on AgriTalk and discuss where other fossil fuels may stand. Plus when will the latest Infrastructure bill(s) be voted on in the House?
Corn and soybean export inspections met expectations, with soybean shipments near the high end of pre-report estimates.