Agriculture News
Refinitiv Commodities Research says trade flow data signals China will likely import 11.6 MMT of soybeans during June, which would be an all-time monthly high.
Warm, dry conditions prevailed in northern and western areas of the Midwest the week ending June 15, resulting in the “widespread worsening of drought and dryness,” according to today’s National Drought Monitor.
Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Wheat sales were also near the lower end of expectations. Total soybean sales fell short of 72,000 MT.
The Fed cited an improving economy and dropped its longstanding reference that the Covid-19 pandemic was weighing on the economy.
USDA to offer aid if the pork markets are impacted by line speed case.
USDA announced today it will expand the Clean Lakes, Estuaries, And Rivers initiative, called CLEAR30, from a pilot program to a nationwide program.
Members of the National Oilseed Processors Association crushed 163.52 million bu. of soybeans during May, marking the fourth month in a row processing has fallen short of expectations.
Hot, dry weather in the Upper Midwest and Western Corn Belt drew down corn and soybean ratings, with too much moisture slowing winter wheat harvest. Find more highlights from today’s crop progress and condition update.
Corn, soybean and spring wheat CCI ratings are all below their respective five-year averages for this point in the growing season.
![“Asian exporters are paying premium shipping rates, sometimes 10 times what the rate is for going from the [United] States back to Asia, and this shipping rate disparity incentivizes sending back those empty containers,” Borror said.](https://assets.farmjournal.com/dims4/default/92c7bcd/2147483647/strip/true/crop/840x561+0+19/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2021-02%2FExport-ship-840.jpg)
Wheat inspections were near the upper end of expectations and last week’s tally was revised 75,091 MT higher versus what was initially reported. Soybean inspections, on the other hand, were even lighter than expected.