News
October 2020 placements were unusually light and October 2021 had one less slaughter day than year-ago.
Nearby soymeal futures are mildly firmer this morning but failed to push above Monday’s highs overnight.
Soymeal futures surge to four-month high, lifting soybeans, winter wheat extends rally to multi-year highs.
Federal Reserve Bank of Chicago notes strong farm incomes have translated into an 18% jump in farmland values.
The HRW CCI rating is still 9.0 points below the five-year average for mid-November, while the SRW rating is 4.9 points above average.
Third quarter bank survey finds rocketing land values, banker optimism
Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.
The Bipartisan Infrastructure Framework is scheduled to be signed by President Biden this afternoon. The Build Back Better plan has a way to go, but the White House hopes to have it approved as late as this weekend.
SRW wheat futures extend rally to nine-year highs on tighter global supply outlook, corn and soybeans also higher.
SRW wheat futures trade near nine-year highs to start week, corn, soybeans slightly lower.
Union: New offer has modest modifications to offer voted down Nov. 2; Vote Wed.