Agriculture News
Soybeans led the overnight price rebound from Tuesday’s losses.
Nearby soymeal futures are mildly firmer this morning but failed to push above Monday’s highs overnight.
Federal Reserve Bank of Chicago notes strong farm incomes have translated into an 18% jump in farmland values.
The HRW CCI rating is still 9.0 points below the five-year average for mid-November, while the SRW rating is 4.9 points above average.
Third quarter bank survey finds rocketing land values, banker optimism
Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.
Soybeans are mildly higher with corn futures lower and wheat futures mixed to start the week. Livestock futures are under slight pressure.
Recent price strength has also turn the short-term trend up for soybean meal and intermediate trend sideways.
The strength in soymeal failed to trigger overnight buying in soybean or corn futures.
Access this week’s newsletter here.