Agriculture News
USDA reported weekly soybean inspections of 349,000 MT for the week ended May 2, which rose 73,000 MT from the previous week. Corn, soybean and wheat inspections were each within pre-report ranges.
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Our updated monthly and quarterly price forecasts, including the initial projections for the fourth quarter.
Weekly soymeal sales during the week ended April 25 missed pre-report expectations and were down 57% from the previous week and 37% four-week average. Corn, soybean and wheat sales were as expected.
Fed officials signaled a cut to interest rates was still possible this year, despite the “no further progress” on inflation
The HRW CCI rating is now 6.0 points under the final mark from last fall. The SRW CCI rating is 15.4 points above the final level ahead of dormancy.
USDA’s Animal and Plant Health Inspection Service (APHIS) updated requirements for dairy cattle as follows:
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.
Short-term trend turns bullish for wheat, soymeal and cattle futures.