Agriculture News
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Large purchases from China during week ended Dec. 7 boosted wheat sales to 1.5 MMT during the week, a marketing-year high. China’s purchases totaled 1.12 MMT during the week.
New economic projections show a notable shift in tone and outlook to dovish.
Annual Iowa State University survey finds farmland values rose in first half 2023, plateaued by end of year.
Corn and soybean inspections during week ended Dec. 7 declined 464,719 MT and 188,847 MT, respectively, while wheat inspections rose nearly 95,000 MT.
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Global carryover for corn and soybeans each surpassed pre-report expectations by 1.8 MMT and 1.5 MMT, respectively, largely neutralizing the lower-than-expected U.S. corn carryover.
Corn sales during week ended Nov. 30 totaled 1.3 MMT, while shipments reached a marketing-year high. Soymeal and soyoil shipments during the week also notched marketing-year highs.
November’s 12-point rise in the Current Conditions Index to a reading of 113 was primarily responsible for this month’s sentiment improvement as the Index of Future Expectations only improved by 2 points.