Agriculture News
Decline in the HRW crop was led by Texas, though crops in Kansas, Colorado, Nebraska and Montana also dropped.
The U.S. Drought Monitor shows much of HRW areas are covered by dryness/drought, while virtually no abnormally dry conditions and no drought are noted across the SRW states
Soybean export sales slowed dramatically from the previous week but weekly shipments increased.
No clear price tone developed overnight as grain and soy futures held in tight trading ranges.
Corn and soybean basis firms seasonally as harvest pressure eases.
Commodity markets faced pressure overnight on renewed macroeconomic concerns amid new Covid outbreaks in China with grain and soy futures pressured by the broad-based selling.
Both the present situation index and the expectations index surprisingly rose this month.
HRW rating is 8.5 points below average, while the SRW rating is 4.4 points above normal.
This week we welcome special guest David Wasserman, Senior Editor, U.S. House of Representatives for The Cook Political Report. David shares his perspective on potential outcomes of national elections.
Soybean inspections slowed from the previous week but were about as expected.