Weekly corn inspections during the week ended April 25 were down 435,000 MT from the previous week, which was revised 38,000 MT higher. Corn, wheat and soybean inspections were all within pre-report estimates.
Corn and soybeans faced followthrough selling overnight while wheat retreated from Wednesday’s gains amid pressure from outside markets and building global recessionary concerns.
An excerpt from AgriTalk Radio as Davis Michaelsen and Chip Flory discuss the ramifications of Global fertilizer production shutdowns and the outlook for U.S. prices with Josh Linville of StoneX...
USDA raised its forecasts for ag exports and imports in fiscal year (FY) 2022. The initial forecast for FY 2023 projects ag exports will decline $2.5 billion and imports will rise another $5 billion.
Weekly export inspections for week ended August 25, 2022 revealed mid-range inspections for corn and wheat, while soybeans fell short of trade expectations.
Pro Farmer estimates the U.S. corn crop at 13.759 billion bu. with an average yield of 168.1 bu. per acre. We estimate the U.S. soybean crop at 4.535 billion bu. on a national average yield of 51.7 bu. per acre.