Agriculture News
Short-term trend turns bearish for lean hog futures.
Third quarter banker survey notes declining incomes, still low loan demand and rising farmland values.
USDA’s Weekly export inspections data showed corn, soybean and wheat inspections within pre-report ranges, though soybean inspections are increasingly falling behind year-ago.
The report data was virtually inline with expectations, which should have little impact on prices Monday.
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The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.
Weekly corn sales in week ended Nov. 9 totaled 1.8 MMT, topping expectations by over 250,000 MT, while soybean sales totaled 3.9 MMT.
Both crops remain well above last year’s levels.
Weekly soybean inspections in week ended Nov. 9 fell 516,368 MT from the previous week and were shy of the pre-report range of 1.75 to 2.25 MMT.