Agriculture News
Weekly wheat sales reached a marketing-year high in week-ended Oct. 5, while soybean sales rose 31% on the week and were up 68% from the four-week average.
USDA’s October production and carryover figures were lower than pre-report estimates, though the most notable miss was the 4 MMT difference in new-crop global soybean carryover vs. expectations.
Uncertainties included difficulties estimating the state of financial markets, potential oil price shocks and the impact of labor union strikes on the economy, among other factors.
USDA reported weekly soybean inspections of 1.04 MMT, notably above the pre-report range.
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USDA reported weekly corn sales of 1.8 MMT during week ended Sept. 28, increasing export commitments to nearly 9% ahead of last year.
Semi-annual survey of land professionals finds flattening in Iowa land values.
Farmers’ sentiment for the second month in a row as attitudes toward current conditions and future expectations declined.
Weekly corn and soybean inspections are running 10.8% and 8.7% ahead of a year-ago, respectively. Meanwhile, wheat inspections are nearly 29% behind the same time last year.