News
Turkey election goes into runoff | Ukraine: Black Sea grain deal uncertain; no talks planned
Wheat futures will lead price gains in the grain and soy markets amid concerns with the HRW crop and Black Sea grain deal.
Wheat futures posted strong gains overnight, while soybeans traded solidly higher and corn was mixed amid bull spreading.
CBO forecasts | G7 summit | Lighthizer book | Xochitl Torres Small vote | Bank failure hearings
Davis Michaelsen and Editor Brian Grete discuss this week’s market action...
USDA raised its 2023 beef production forecast based on “recent slaughter data and larger-than-previously forecast first-half placements.”
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Winter wheat production and new-crop wheat ending stocks both came in well shy of pre-report expectations.
USDA’s May crop data was mostly bearish, though wheat production and ending stock estimates were notably shy of pre-report estimates, giving the wheat complex momentum to climb higher.
Another California law could have major implications for hog producers, consumers
SCOTUS upholds animal-welfare law approved by California’s voters in 2018
Calif. Prop 12 update | Rail safety bill | Refilling SPR | U.S./China officials talk | CRP
Wheat futures are expected to open solidly higher, with corn and soybeans likely to be mixed with a firmer tone. Pre-report positioning will be featured this morning ahead of USDA’s May crop reports.
Corrective buying supported corn, soybean and wheat futures ahead of USDA’s May crop reports later this morning.
The Federal Reserve Bank of Kansas City reports a 10% annual boost in farmland values.
Quarterly Federal Reserve Bank survey finds continuing gains in farmland prices, favorable credit conditions.
Major blow to pork and ag sector, but Kavanaugh dissent comments could mean further challenge ahead