Agriculture News
While dairy operations are working to expand, finding millions of more cows is challenging, feed costs are high and both land and water are scarce.
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.
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.