Agriculture News
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.
Weekly corn inspections during week ended Nov. 30 totaled 1.16 MMT, exceeding the pre-report range by nearly 260,000 MT, while wheat and soybean inspections each fell short of respective pre-report ranges.
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Weekly corn, soybean and wheat sales for week ended Nov. 23 each topped pre-report expectations and rose notably from the previous week.
In November, approximately 5.78 million birds have been affected by bird flu, a substantial rise from the 1.37 million reported in October.
The final CCI rating ahead of dormancy was equal to the five-year average for HRW and 14.8 points above average for SRW.
Weekly corn inspections missed the pre-report range and fell nearly 200,000 MT from the previous week, while wheat fell nearly 90,000 MT and soybeans nearly 190,000 MT.
Short-term trend turns bearish for lean hog futures.