Agriculture News
Highlights from today’s USDA Crop Progress and Condition Report.
Purdue University and CME Group report the Ag Economy Barometer dropped 20 points during May to a reading of 158 points, the lowest since September 2020.
JBS is the world’s largest meatpacker and it controls around 25% of all U.S. beef capacity and roughly 20% of its hog slaughter capacity.
Initial Pro Farmer corn CCI rating is 4.7 points above the five-year average
An already low spring wheat CCI rating falls even further below the five-year average
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Grain and soy futures are sharply higher to start the week after a weekend frost. Live and feeder cattle futures are under pressure with lean hogs mixed.
Wheat inspections dropped notably from last week’s strong showing. Soybean inspections were lackluster, as expected.
Temperatures dipped below freezing over Memorial Day weekend in the Upper Midwest and Northern Plains, raising questions about slowed development and the possibility some replanting will be needed.
