Agriculture News
Annual survey highlights farmland prices and average cash rents across state.
The corn CCI rating is now less than 1% below year-ago, while soybeans and spring wheat are still notably under last year at this time.
USDA reported weekly inspections declined for corn, soybeans and wheat, with wheat falling more than 310,000 MT from the previous week, missing pre-report estimates.
Short-term trends turn bearish for corn, soybeans and wheat.
USDA’s annual survey finds 8.1% gain in average cropland values
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Our monthly and quarterly price forecasts, including the first projections for the first quarter of 2024.
Old-crop weekly soybean sales faded on the week, while new-crop sales rose steadily amid a recent uptick in purchases. Meanwhile, old-crop corn sales were shy of the pre-report range, while wheat sales rose notably.
This month’s rise was primarily the result of farmers’ improved perception of current conditions on their farms.
The spring wheat CCI rating was the lowest of the growing season; the corn and soybean crops were still above their early July ratings.