Several rounds of storm systems led to some drought improvement to the Midwest and Plains the week ending Oct. 5, but drought/dryness worsened in areas that missed out amid unseasonable warmth.
Corn export sales handily topped expectations the last week of September, with more export facilities reopening and fresh supplies in the U.S. pipeline. Sales were up sharply from sub-400,000 MT in recent weeks.
Global food prices up nearly a third from year-ago. Farm optimism slides as inputs rise, ag trade prospects dim. Debt limit ceasefire. Russia offers to ease Europe’s gas crisis, with stipulations.
“The August export results would be impressive under any circumstances, but achieving these totals despite all the Covid-related obstacles at home & overseas is truly remarkable,” says USMEF President Dan Halstrom
Attaché: China to bring in 30 MMT of corn in 2020-21 & 20 MMT in 2021-22. Biden: ‘Real possibility’ Dems could revise Senate rules to counter filibuster. PCR sales soared in Wuhan before first official Covid-19 cases.
Cordonnier maintains U.S. crop estimates, notes ‘surprisingly good’ bean yields. Russian wheat prices still rising. Another Chinese developer has fallen into crisis. Biden warns U.S. could default, blames McConnell.
Find highlights from today’s Crop Progress and Condition Report.
The National Weather Service revised its one-month temperature and precipitation outlooks at the start of October, including some significant changes on the precipitation front.
While shipment tallies improved notably as more export facilities reopened at the Gulf, the amount of beans inspected for export was still well under year-ago. USDA also made significant revisions to last week’s data.
Soybeans drop to a six-month low. Dry weather holding back winter wheat planting in Russia. Canadian canola exports down sharply from year-ago. Biden administration to lay out China trade policy.

Meghan Vick

Meghan joined Pro Farmer in June 2011 and is currently the News Editor. Prior to joining the Pro Farmer team, Meghan worked as an editor at Stocks, Futures and Options (SFO) magazine. During her time there she gained her Series 3 license from the National Futures Association. She is a 2009 Summa Cum Laude graduate of Wartburg College in Waverly, Iowa, with Bachelor of Arts degrees in English and writing. LimelightPlayerUtil.initEmbed(‘limelight_player_28855'); At Pro Farmer, Meghan writes many of the daily market commentaries in addition to website news stories and updates on Washington happenings. She also compiles the quarterly Washington Outlook Report.