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Bird flu in U.S. dairy cattle | CEOs meet with Xi | Food prices | Donuts at McDonalds | Gas at $4?
HRW crop improves, Baltimore Bridge struck by cargo ship and U.S. frozen meat inventories decline...
Corn, soybeans and wheat each faced mild price pressure in a relatively quiet overnight session. Trade so far this week has been largely positioning ahead of Thursday’s USDA reports.
Corn, soybeans and wheat faced mild price pressure during a relatively quiet overnight session.
State-level winter wheat condition ratings signaled more general improvement in the HRW crop over the past month, despite a minor downtick in top producer Kansas.
USDA says a small number of dairy herds in Texas and Kansas tested positive for a strain of highly pathogenic avian influenza (HPAI).
Frozen pork stocks declined contra-seasonally during February, while beef inventories fell more than average.
Corn inspections during the week ended March 21 totaled 1.228 MMT, down nearly 100,000 MT on the week but more than double the same week a year-ago. Meanwhile, soybean inspections rose 68,000 MT on the week.
Grain futures are mildly firmer to open the week. Cattle futures are under pressure from last Friday’s Cattle on Feed Report.
EU conducting investigations into major tech companies under Digital Markets Act
Corn traded in a tight range overnight while soybeans and wheat favored the upside. Volatility is likely to remain limited in corn until Thursday’s USDA reports.
Corn and soybean futures swung to both sides of unchanged during the overnight session, while wheat favored the upside.
Next up in Congress: Aid for Ukraine & Israel; House farm bill focus in April and/or May
Annual report from Illinois Society of Professional Farm Managers and Rural Appraisers.
Access this week’s Newsletter here...
FY 2024 funding | Border tensions | Paraguayan beef trade | Labeling of cell-cultured meat & poultry products
Corn, soybeans and wheat each favored the downside overnight, though pared losses into the break.