Agriculture News
During the week ended Feb. 13, soybean inspections declined 377,000 MT from the previous week, while wheat inspections tumbled 320,000 MT, though weekly corn inspections rose notably to 1.6 MMT, topping analysts’ pre-report range.
Kansas City Fed Bank Reports Decline in Ag Land Sales Volume
Chicago Fed Bank Reports 1% Yearly Decline
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
Analysts expected modest declines in 2024-25 ending stocks for corn and soybeans, though USDA kept the estimates unchanged from last month. Global corn, soybean and wheat ending stocks were each below their average pre-report estimate.
During the week ended Feb. 6, weekly wheat inspections rose 283,000 MT from the previous week. Meanwhile, corn and soybean inspections were both near the upper end of pre-report expectations.
Corn, soybeans and wheat are off to a higher start this morning. Cattle futures are narrowly mixed with lean hogs under pressure...
Corn sales during the week ended Jan. 30 totaled 1.48 MMT, rising 9% from the previous week and 32% from the four-week average.
During the week ended Jan. 30, soybean inspections rose 275,000 MT from the previous week, with both corn and soybean inspections ending near the upper-end of pre-report expectations.