Agriculture News
On the other hand, wheat sales climbed in the face of rising futures prices, with USDA also reporting a small but unexpected sale for 2022-23.
Corn and soybean basis remain much stronger than normal.
Given last year’s pandemic-related disruptions to the cattle herd, the data could receive more market attention than it typically does, with traders likely to take particular note of USDA’s calf crop estimate.
On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels.
The Biden administration has delayed its annual rulemaking process regarding its biofuel blending mandates under the Renewable Fuel Standard (RFS) for 2021 (2022 for biodiesel), Reuters says in an exclusive report.
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
Find highlights from today’s Crop Progress and Condition Report.
The spring wheat CCI rating is now 38.1% below the five-year average for this date.
Pro Farmer Washington Analyst Jim Wiesemeyer and host Chip Flory discuss the highlights of last week in D.C.
Export inspections of corn, soybeans and wheat were all in line with expectations, with the corn tally holding above 1 MMT and wheat inspections nearing 500,000 MT. Soybean futures were light, as expected.