Weekly export data for week ended May 18, showed net reductions for corn and wheat, while soybean sales were up noticeably from the previous week. Though, meal sales were the highlight; up 68% from the four-week average.
Soybean futures pulled back from Monday’s strong gains during overnight trade, while the corn and wheat markets have firmed after earlier trading lower.
Weekly wheat inspections for week ended May 18, showed 407,682 MT, topping the range of expectations. Corn inspections were near the top-end of the pre-report range and up nearly 150,000 MT from the week prior.
G7 members devise fresh sanctions on Russia, McCarthy is optimistic a vote on the debt limit is coming soon and Prop 12 may appear in the new farm bill...
Both Scott and Thompson criticized the idea of excluding larger farms from farm bill programs, pointing out that these farms account for nearly 90% of U.S. ag production.
Above-normal precip is expected over the eastern two-thirds of the Corn Belt during the June through August period. There are 'equal chances' for temps over the Corn Belt during the period.
In week ended May 11 corn and wheat marked new marketing year lows with net reductions of 339,000 MT and 42,100 MT, respectively. Weekly soybean sales were down 73% from the week prior and 89% from the four-week average.
The new pricing system scraps a so-called fuel import parity policy that more closely aligned prices at the pump with the oil market and exchange rates.
New University of Colorado Boulder research shows the number of farms globally will shrink in half as the size of the average existing farms doubles by the end of the 21st century.
