Agriculture News
Drought continues to hammer the U.S. spring wheat crop, while corn and soybean ratings slipped.
Jim Wiesemeyer and guest host Davis Michaelsen discuss the week ahead in Washington...
Corn inspections were also decent and above 1 MMT. Soybean inspections were near the upper end of expectations, though the overall tally was still pretty light.
Corn soybean and wheat futures open the week under pressure on Friday’s poor closes and overnight pressure. Cattle futures are firmer on USDA’s Cattle Inventory Report, out Friday. Hog futures are mildly softer.
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Most farmers don’t need an incentive to do the right thing, says guest blogger Gabriel Carballal.
Frozen beef stocks dropped 4.3% during June whereas they typically hold near steady for the period.
Cash prices generally strengthened for grains, soybeans.
“Active weather prevailed across much of the South, East, and Midwest, as well as parts of the Plains, into the middle of July, followed by a southward shift in widespread shower activity,” today’s report says.
On the other hand, wheat sales climbed in the face of rising futures prices, with USDA also reporting a small but unexpected sale for 2022-23.