Pro Farmer
More heavy rains possible in parts of Corn Belt
As USDA moves to restore confidence in its agricultural data, a closer look at livestock reports shows the agency has been getting animal inventories right — with cattle estimates missing by less than 150,000 head on average over five years.
September objective yield data backs up Crop Tour findings of blank stalks and smaller ears, but USDA’s ear weight assumptions still don’t reflect the full extent of crop stress.
Corn, soybeans and wheat favored the downside in overnight trade.
Unrelenting rains in parts of Corn Belt
The improvement in ratings is the first since early July
Sulfur prices have surged more than fivefold, threatening phosphate fertilizer production. With global supply tightening, farmers could face higher prices, or even fertilizer shortages, heading into the months ahead.
Cattle futures surge amid impressive gains in cash.
Reports of peace talks in the Black Sea undercut wheat futures mid-morning.
Hogs succumb to seasonal weakness.
Corn futures struggle to hang on to early gains as wheat futures slump.
Bill Watts, Lane Akre and Spencer Langford break down USDA’s September Crop Production and WASDE Reports and what they mean for markets as harvest season gets under way.
U.S. diesel prices have reached record highs, up 61% from the prior year, just as farmers prepare for the fuel-intensive fall harvest, putting additional pressure on already strained crop-farm margins.
Corn, soybeans and wheat are each favoring the upside this morning but have not moved much outside Friday’s ranges