Your Pro Farmer newsletter (February 4, 2023) is now available

Argentina received its best rains of the growing season over the past week, resulting in the best soil moisture conditions in months. But timely rains will be needed during February to avoid further crop deterioration. USDA’s ag attaché in Argentina slashed the country’s soybean crop estimate – and history suggests it’s likely still too high. U.S. HRW wheat crop further declined in January, while there are some risks for Russia’s wheat crop. USDA estimated the U.S. beef herd was the smallest since 1962 – and it will get smaller. On the economic front, the Fed slowed the pace of its interest rate increases but said “there’s more work to do” on inflation. The International Monetary Fund expects global economic growth to slow this year, though not as much as previously feared. We cover all these items and much more in this week’s newsletter, which you can download here.