Agriculture News
U.S. net farm income is forecast to reach $116.8 billion in 2021, up $22.0 billion (23.2%) from 2020 with the 2020 result up $15.7 billion (19.9%) from 2019.
Grain and soy markets are trading higher and high-range this morning, led by HRW wheat contracts.
U.S. will release 50 million barrels of oil in a coordinated effort along with releases from strategic reserves by China, India, South Korea, Japan and Great Britain.
The SRW CCI rating is now below the five-year average for the first time this fall.
Wheat inspections were below expectations, while corn and soybean figures fell within the range of pre-report estimates.
Below, you’ll find an update to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Winter wheat futures surged to new contract highs overnight, while spring wheat sharply rebounded from last week’s losses amid tight global supplies of high-quality wheat.
Market impact should be very limited and focus for cattle futures will remain on the cash market.
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