Agriculture News
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RMI registers negative for ninth consecutive month.
During the week ended May 9, weekly pork sales totaled 21,100 MT, a marketing-year low, while soybean sales missed the pre-report range of estimates, falling 38% from the previous week. Weekly corn sales dropped 17%.
Drought covers 25% of winter wheat areas, 12% for corn and 9% for soybeans.
The HRW crop improved despite a drop in the Kansas crop.
Soybean export inspections during the week ended May 9 reached 406,000 MT, above the expected pre-report range and up 48,000 MT from the previous week. Corn and wheat inspections were as expected.
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The Federal Reserve Bank of Chicago’s quarterly ag banker survey finds gains in first quarter land values.
Kansas City Federal Reserve finds rising farmland values despite a weakening farm economy.