Proposition 12 imposes what opponents claim is arbitrary animal housing standards that reach far outside of California's borders to farms across the country, and bans the sale of pork that does not meet those standards.
But today’s update also featured upside revisions to USDA’s initially reported soybean and especially corn export inspections for the week ending June 17.
Spring wheat futures continue to climb, soybeans are sharply higher as well with corn futures mildly higher. Cattle futures are mixed and mostly weaker as hog futures firm.
Inside you'll find weather updates, both sides of the livestock pricing issue, an update on an infrastructure deal and market-by-market analysis and marketing advice.
Severe thunderstorms affected parts of northern Illinois, northern Indiana, northern Ohio, and southern Michigan on Sunday. But other Midwest areas continued to dry out.
Corn sales were near the midpoint of expectations, with exports holding strong. Old-crop soybean sales were near the upper end of expectations, but new-crop sales fell short. Wheat sales also met expectations.
While corn prices rallied 22% from March 31 to June 1, soybean prices dipped 3%, lifting corn planting intentions at the expense of soybeans, according to FBN's survey work.
Frozen pork stocks stood at 461.14 million lbs. at the end of May, which was a 4.22-million-lb. (0.9%) build from April versus the usual 34-million-lb.-retreat for the month.
More than a year later, we need to get back to normal because we need to start repairing 15 months of broken connections, writes Cherilyn Jolly-Nagel with Global Farmer Network.
Spring wheat ratings plummeted, and corn came in lower than expected. Find more highlights from today's weekly Crop Progress and Condition Report here.
Refinitiv Commodities Research says trade flow data signals China will likely import 11.6 MMT of soybeans during June, which would be an all-time monthly high.
China’s state-owned importers bought at least eight cargos (480,000 MT) of U.S. soybeans, today, two traders familiar with the deal toward Reuters. And that tally could climb even higher.
We project total corn and soybean plantings at a record 182.3 million acres, which is the exact total we estimated in March and would be up 8.4 million acres from last year and 2.0 million acres more than the 2017 peak.
A weather market is in full swing, with commodities diving the past week. Inside this week's letter you'll find plenty of updates on the forecast, crop conditions (crop comments are back!) and Washington happenings.
Warm, dry conditions prevailed in northern and western areas of the Midwest the week ending June 15, resulting in the “widespread worsening of drought and dryness,” according to today’s National Drought Monitor.
Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Wheat sales were also near the lower end of expectations. Total soybean sales fell short of 72,000 MT.
Members of the National Oilseed Processors Association crushed 163.52 million bu. of soybeans during May, marking the fourth month in a row processing has fallen short of expectations.
Hot, dry weather in the Upper Midwest and Western Corn Belt drew down corn and soybean ratings, with too much moisture slowing winter wheat harvest. Find more highlights from today's crop progress and condition update.
USDA upped the ante this year by providing greater incentives like higher rental payments as part of the Biden administration’s all-of-government approach to tackling climate change.
Wheat inspections were near the upper end of expectations and last week’s tally was revised 75,091 MT higher versus what was initially reported. Soybean inspections, on the other hand, were even lighter than expected.
Grain and soy futures are under hefty pressure on improved rain chances in the coming weeks. Feeder cattle futures are sharply higher with fat cattle near unchanged. Lean hog futures are under pressure.
Private analytics firm IHS Markit trimmed its 2021 U.S. corn planted acreage estimate by 310,000, dropping it to 96.54 million acres, which is still above most private forecasts.
Confirming ag sector fears, the EPA announced today it plans to roll back the Trump Administration's
Navigable Waters Protection Rule and revise the definition of U.S. waterways that can be regulated.
