News
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.
Corn and soybean futures extended Tuesday’s declines during overnight trade, while wheat futures traded narrowly mixed.
Latest Mexican decree still bars GMO corn for food as of 2024, to transition away from GMO corn in animal feed
Corn and wheat futures are expected to be mildly firmer, while soybeans are called slightly weaker. But we anticipate two-sided, directionless price action.
Two-sided trade was seen in the grain and soy markets overnight, with corn and wheat mildly firmer and soybeans weaker early this morning.
Soybean export inspections were down nearly 360,000 MT from the previous week, but were near the top-end range of pre-report estimates. Soybean inspections are running currently running 1.6% ahead of a year ago.