Agriculture News
The underlying data was bullish as the U.S. cattle herd contracted further — and will continue to do so.
HRW crop ratings improvements over the past month were led by top producer Kansas and Nebraska.
Malanga notes the possibility of the Federal Open Market Committee (FOMC) considering a rate cut in March if labor market weakness becomes apparent.
During the week ended Jan. 25, weekly wheat and soybean inspections were down from the previous week, while corn inspections rose 155,000 MT.
Short-term trend turns bullish for lean hog futures.
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That would still be the smallest annual increase in overall food prices since they rose 0.9% in 2017.
Weekly soybean sales during the week ended Jan. 18, missed the low-end pre-report estimate by 140,000 MT and were down 28% from the previous week.
During the week ended Jan. 18, weekly corn and soybean inspections dropped 233,127 MT and 117,068 MT, respectively, while wheat inspections rose 72,112 MT from the previous week’s totals.
Short-term trend turns bullish for cotton, remains bearish for corn, soybeans and wheat