Agriculture News
The National Weather Service revised its one-month temperature and precipitation outlooks at the start of October, including some significant changes on the precipitation front.
Corn and soybean basis continues to weaken as harvest picks up.
We believe any surprises for wheat will likely come in the Small Grains Summary. Find expectations for USDA’s key reports at month’s end.
Corn rating was unchanged while the soybean rating modestly declined.
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Wheat inspections came in well short of expectations at just over half of last week’s tally, catching the market off guard.
Corn, soybean and wheat futures are slightly firmer this morning. Hog futures are sharply higher and cattle futures are under light pressure.
USDA also made some substantial revisions to past data.
On average, analysts surveyed by Reuters expect USDA will report the Sept. 1 hog herd around 77.101 million head, down 1.7% from year-ago. The report will be released at 2:00 p.m. CT Friday.