Agriculture News
Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.
Old- and new-crop soybean sales during the week ended Aug. 1 each surpassed analysts’ pre-report expectations, while new-crop corn were notably short.
Corn and soybean basis declined along with cash prices.
Followthrough buying in wheat, corn and beans extend losses overnight.
Iowa was the only state in the Farm Credit Services report to experience a decline in farmland values.
Annual USDA Report Pegs Average Value at $5,570 an Acre
All three crops remain rated well above last year at this time.
Josh Linville, Director of Fertilizer at StoneX surveys the current situation and looks out to the coming months
Weekly corn inspections during the week ended Aug. 1 totaled 1.2 MMT, up 143,000 MT from the previous week and topping analysts’ pre-report expectations.
Grains pressured overnight by generally favorable weather and strong risk aversion.
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New-crop export sales for corn, soybeans and wheat each landed within analysts’ pre-report expectations, though soyoil sales posted net reductions for a second straight week.
Corn and soybean basis remains well below average despite weak cash prices.
The November elections won’t play role in monetary policy moves or timing.