Agriculture News
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.
Wheat exports held strong and were near the upper end of expectation.
Grain and soy futures are under pressure amid broad-based risk-off selling. Livestock futures are lower to start the week as well.
ERS finally released analysis of Biden’s plan to change stepped-up basis on inherited assets, and its conclusions don’t tell the full story.
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80% of rural bankers in 10-state region say elimination of step-basis will have negative impact on mainstreet economies.
Drought spread across the Central and Southern Plains over the past week, as well as in southern and eastern areas of the Corn Belt, according to the latest U.S. Drought Monitor.
Warm weather is likely to continue across most of the Midwest and Plains during October, according to updated weather maps from the Climate Prediction Center. The precipitation outlook for next month is less certain.
In contrast, corn sales slumped to less than 250,000 MT.
Corn and soybean basis weaken as harvest picks up and amid Gulf logistics issues due to Hurricane Ida.