Agriculture News
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.
Conab now estimates Brazil’s total corn crop at 69.96 MMT. That compares to USDA at 98.5 MMT.
The Dakotas saw a mix of drought improvement and drought degradation, but today’s update didn’t fully account for this week’s rains.
Cotton and wheat carryover also came in lighter than expected.
Memorial Day coincided with the reporting period, which may have limited business to some degree.
Confirming ag sector fears, the EPA announced today it plans to roll back the Trump Administration’s Navigable Waters Protection Rule and revise the definition of U.S. waterways that can be regulated.
USDA will update its old- and new-crop balance sheets, along with global production and provide the second estimate of the U.S. winter wheat crop.
Spring wheat crop conditions are deteriorating amid drought in the Northern Plains and PNW.
The corn CCI rating is still a little above average, despite the weekly decline.
Corn export inspections declined 691,290 MT from the previous week’s upwardly revised tally.
Grain and soybean futures gapped higher overnight, lean hog futures are posting fresh highs as live and feeder cattle futures soften.