Your Pro Farmer newsletter (April 15, 2023) is now available

USDA’s April Supply & Demand Report didn’t feature many changes, though there were some surprises. With temps warming, there will be a greater focus on weather, especially flooding in the northern Corn Belt/Northern Plains and dryness in the southwestern Plains. The U.S. Climate Prediction Center expects ENSO-neutral conditions through spring but then a transition to El Niño. Meanwhile, Russia is threatening to end the Black Sea grain deal in mid-May if its demands aren’t met. Livestock markets are trending in opposite directions. Cattle futures and the cash market surged to all-time highs, while hogs continued to slump amid weakening cash and product prices. On the economic front, U.S. inflation eased in March, which sparked a selloff in the U.S. dollar amid ideas the Fed’s monetary tightening could be closer to done than previously expected. We cover all of these items and much more in this week’s newsletter, which you can download here.