Agriculture News
Weekly wheat sales, short of pre-report estimates, were down 24% from the previous week, while corn and soybeans were down 45% and 27%, respectively.
Fed Chair Jerome Powell left the door open for more rate hikes if needed, but noted ‘risk are now more two-side.’
Initial CCI ratings show wide variance between HRW and SRW.
During week ended Oct. 26, corn inspections rose 82,225 MT, while soybean inspections fell 735,466 MT from the previous week.
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Weekly corn sales during week ended Oct. 19 totaled 1.351 MMT, which topped pre-report expectations, while soybean sales totaled 1.378 MMT.
Beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Sept. pork stocks dropped, whereas there is normally a small buildup in supplies.
Iowa’s farmland values, which saw consecutive record-breaking increases for two years, are now showing signs of cooling, though they remain near historic highs.
USDA reported wheat inspections of 168,868 MT during week ended Oct. 19, which were down 187,000 MT from last week and below pre-report estimates.