Latest News From Agriculture News

The proposed reductions are due to Covid impacts on fuel demand. EPA proposes returning to statutory mandated levels in 2022.

With no updates to the corn and soybean crop estimates this month, focus will be on changes to demand projections for 2021-22.

Soybean inspections slipped modestly from the previous week.

Corn soybean and wheat futures opened firmer overnight but have faded and continue to soften to start the week. Live and feeder cattle futures are mildly lower as lean hog futures fall sharply.

Short-term trend for corn turns sideways.

Sixteen auctions in a month saw new records posted in price per productivity index point.

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Soybean futures extended their corrective gains from the two previous days overnight, which helped support corn. Wheat futures held in a tight range in narrowly mixed trade.

As of Nov. 30, 52% of U.S. winter wheat area was covered by drought conditions, up from 49% the previous week.

Wheat export sales were a marketing-year low. Corn and soybean sales were down sharply from the previous week but each topped 1 MMT.

Grain, soybean futures extended Wednesday’s corrective gains overnight.

U.S. net farm income is forecast to reach $116.8 billion in 2021, up $22.0 billion (23.2%) from 2020 with the 2020 result up $15.7 billion (19.9%) from 2019.

The HRW CCI rating is 7.8 points below the five-year average, the SRW rating is 13.5 points under the end-of-fall norm.

Soybean inspections topped expectations at more than 2.1 MMT.

Soybean export sales were within the range of pre-report estimates.

The SRW CCI rating is now below the five-year average for the first time this fall.

Wheat inspections were below expectations, while corn and soybean figures fell within the range of pre-report estimates.

Below, you'll find an update to our short-term, intermediate- and long-term trends for commodity and key outside markets.

Market impact should be very limited and focus for cattle futures will remain on the cash market.

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Monthly banker survey finds strong farmland values

While there are lysine shortages, the price rally is likely as much speculative-driven as it has to do with fundamentals.

The NWS forecast calls for above-normal temps and below-normal precip over most of the Southern Plains from December through February.

Drier weather in the southwestern United States, western Great Plains, and Southeast led to drought conditions developing or worsening for parts of these regions.

Weekly soyoil sales were strong and much higher than expected.

While some portions of the bill would benefit ag, AFBF says the massive spending and tax increases would outweigh the gains. 

October 2020 placements were unusually light and October 2021 had one less slaughter day than year-ago.

Federal Reserve Bank of Chicago notes strong farm incomes have translated into an 18% jump in farmland values.

The HRW CCI rating is still 9.0 points below the five-year average for mid-November, while the SRW rating is 4.9 points above average.

Third quarter bank survey finds rocketing land values, banker optimism

Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.

Soybeans are mildly higher with corn futures lower and wheat futures mixed to start the week. Livestock futures are under slight pressure.

Recent price strength has also turn the short-term trend up for soybean meal and intermediate trend sideways.

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Export sales for all three were within expectations, with corn sales of nearly 1.1 MMT and soybean sales of almost 1.3 MMT.

Oklahoma saw the most drought improvement, with coverage in the state declining five percentage points over the past week.

The surge in consumer prices came a day after data showed producer prices also jumped sharply in October.

USDA lowered its soybean crop by 23 million bu., whereas traders expected a 36-million-bu. increase.

Projected U.S. ending soybean stocks up less than expected.

The HRW rating is well below the five-year average, while the SRW rating is still above its norm for early November.

Soybean inspections topped 2.6 MMT the week ended Nov. 4.

Grain and soy complex futures are under pressure to open the week. Live cattle futures opened weaker but have since reversed course and lean hog futures opened firmer but have turned mildly softer.

Short-term trend turns up for live cattle and sideways for hogs.

Projections of note for the 2022-23 marketing year.

The bigger crop estimate is expected to increase the 2021-22 bean ending stocks projection. But traders see corn carryover declining a little, as ethanol use is likely to rise.

Beef exports to China are up more than 700% this year, while pork shipments are down 37%.

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USDA says 43% of U.S. winter wheat areas are experiencing drought conditions, unchanged from the previous week.

Soybean sales totaled nearly 1.9 MMT, while corn sales topped 1.2 MMT.

As was widely expected, the Federal Reserve will begin dialing back its asset purchases by $15 billion per month, starting later in November.