Pro Farmer
The farm economy is at a crossroads. High costs and negative margins are driving record government payments, but economists say innovation, lower costs and new demand are key to restoring profitability.
An overall friendly reports for crops amid shrinking world balance sheets.
USDA pegged new crop corn ending stocks at 1.790 billion bu., well below the average pre-report estimate of 1.873 billion bu. World ending stocks for corn, soybeans and wheat also landed below expectations.
Wheat continues to lead strength with corn and soybeans following to the upside.
New World screwworm cases in U.S. continue to creep up
Cattle futures break to fresh lows amid cash market weakness.
Corn and soybeans continue to see relative weakness.
Cattle based early in the session before sellers returned.
USDA will use the latest planted acreage estimates and incorporate Grain Stocks data.
Terrain’s Dave Weaber says herd expansion remains on hold heading into 2027, with feeder cattle and fed cattle prices expected to hit new highs in Q3 — even as a potential strong El Niño and the Cargill Fort Morgan lockout add fresh uncertainty to the supply picture.
Percentage of row-crop acres suffering from drought unchanged from previous week
Weather in focus as traders await Friday’s July WASDE report