Agriculture News
China’s state-owned importers bought at least eight cargos (480,000 MT) of U.S. soybeans, today, two traders familiar with the deal toward Reuters. And that tally could climb even higher.
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.
USDA upped the ante this year by providing greater incentives like higher rental payments as part of the Biden administration’s all-of-government approach to tackling climate change.
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Grain and soy futures are under hefty pressure on improved rain chances in the coming weeks. Feeder cattle futures are sharply higher with fat cattle near unchanged. Lean hog futures are under pressure.