Agriculture News
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.
Warm, dry weather favored crop maturation and harvesting across much of the country the week ending Sept. 21, with topsoil moisture sliding for newly planted winter wheat.
But sales of soybeans, soymeal and cotton were strong the week ending Sept. 16, signaling optimism operations will get back to normal in time for the peak shipment period.
Corn, bean basis accelerate their recent dives as harvest ramps up.