News
GAO looks to bolster ag contribution to climate change fight, CFTC continues to struggle to release COT reports and egg prices reach record in January...
Two-sided directionless trade is expected in the grain and soy markets to start daytime trade, though outside markets are price-negative.
Crop insurance | CRP | Rate hikes ahead | Food stamps/TFP | Price of eggs exceeds ground beef
Corn, soybeans and wheat traded in relatively narrow ranges during two-sided overnight price action.
Creighton University’s Monthly Index notes declines in economic indicators.
Next CBO forecasts likely used for farm bill scoring | Vilsack tapping of CCC impacting funding for Title 1 in new farm bill
Brazilian bean crop estimate cut, USDA outlays for ag in the next 10 years up 65% from previous and Emmanuel calls out China’s balloon incursion...
Areas expected to see both above-normal temps and below-normal precip have been reduced from previous forecasts.
Net corn sales for week ended Feb. 9 were down 12% from the previous week, but up 15% from the prior 4-week average, while Wheat and soybean sales were down 32% and 35% from their respective 4-week averages.
Corn and soybeans are expected to open mildly weaker, while wheat is likely to see a mixed tone.
Debt-related budget cuts ahead for farm programs, other entitlements, but timeline unclear
Corn, soybeans and SRW wheat faced light followthrough selling during overnight trade, while HRW and HRS wheat mildly rebounded.
Increased cost of TFP alone greater than all other farm program spending combined
Farm diesel price falls to the lowest in nearly a year.
Cash hog prices firmed again this week as the seasonal rally is gradually underway.
U.S. retail sales surge way above expectations
Ukraine accuses Russia of delaying grain inspections, dray areas of Brazil weigh on crop prospects and India steps up soymeal exports...
We expect price pressure seen in corn, soybeans and winter wheat to carry over to the start of daytime trade.