Agriculture News
Inspections of corn and soybeans were in line with expectations the week ended July 1, though expectations for soybean shipments were admittedly light. Wheat inspections fell just short of expectations.
Grain and soy futures opened under hefty pressure on weekend rains. Fat cattle futures are under pressure as lean hogs firm.
EPA exceeded its authority when it allowed year-round sales of E15, the D.C. Circuit ruled Friday.
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Cash corn and soybean prices surge following USDA’s June 30 reports.
A stalled frontal boundary brought widespread, heavy rain and flash flooding to parts of the lower Midwest. But the Upper Midwest largely missed out on the heaviest rains, maintaining drought concerns.
The bulk of these big new-crop soybean sales was known via USDA’s daily reporting service. Old-crop sales were light, as expected, but they were able to stay in positive territory.
Corn and soybean basis surges on the rollover in contracts, but cash prices also soar.
Corn planted acres climbed from March intentions, but by around 1.1 million acres less than analysts expected. USDA’s June 1 stocks estimates came in on the friendly side of expectations for corn, soybeans and wheat.
Analysts surveyed by Reuters did a pretty good job anticipating Statistics Canada’s planted acreage adjustments.