Agriculture News
The spring wheat CCI rating was the lowest of the growing season; the corn and soybean crops were still above their early July ratings.
Weekly wheat inspections in week ended July 27 rose 220,413 MT from the previous week, topping the pre-report range. Shipments are now running 4.8% behind a year ago, compared to 16.9% last week.
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USDA reported corn sales were up 33% on the week, while soybeans were up noticeably and up 73% from the four-week average. Weekly wheat sales rose 37% week-over-week, but were down 17% from the four-week average.
Crop conditions fall in corn, soybeans and spring wheat
Wheat inspections in week ended July 20 were up 85,621 MT from the previous week and above the pre-report range. Soybean inspections rose notably from the previous week, while corn fell 100,000 MT.
Cattle herd declined 2.7%; beef cows dropped 2.6%.
June placements unexpectedly increased from year-ago.
Monthly survey finds rising optimism in 10-state ag economies.
The 90-day forecast suggests most of the key corn and soybean areas should see generally favorable conditions for August through October.