Agriculture News
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.
Andrey Sizov, head of SovEcon, says, “Spring weather conditions were favorable for the new winter wheat crop. However, there is a big question mark over the spring wheat crop now.”
Harvest of China’s winter wheat crop got underway this month, which along with Chinese changes in recommended feed mixes could cool Chinese buying of corn near-term.
“Reports indicate much of this week’s heavy rains was immediately absorbed by the severely dry soils, with no runoff into empty dugouts or ponds,” according to today’s Drought Monitor Summary.
Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.
China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.
Argentine port workers launched another 48-hour strike at midnight as they continue to push to be designated essential workers so they can receive Covid-19 vaccines.
FSA will invest $10 million to measure and monitor the soil carbon sequestration and other climate and environmental benefits of conservation practices over the life of CRP contracts
The all-items consumer price index climbed 0.8% from March to April, with the gauge of economy-wide inflation now up 4.2% from year-ago levels, according to USDA’s Economic Research Service.
Ceres Global Ag Corp. today announced it will build a $350 million canola crushing facility in Northgate, Saskatchewan, which is near Canada’s border with the U.S.
Dr. Dermot Hayes says even with possible mandatory overtime to compensate for lost capacity, the industry will lose 2.5% of overall harvest capacity if the ruling stands, with small producers likely to be hardest-hit.