Agriculture News
The initial broadcast of our weekly podcast looking at the week ahead and key factors impacting ag markets.
Weekly exports of upland cotton totaled 334,000 RB during the week ended Feb. 27, while net sales rose 45% to 241,500 RB. Meanwhile, corn and wheat sales were up on the week, while soybean sales slid.
Corn, soybeans and wheat built on Wednesday’s corrective gains during overnight trade.
Basis dropped for both corn and soybeans despite sharply lower cash prices.
Strengthening crop prices, positive returns in the livestock sector and expectations for receipt of disaster payments from USDA all combined to strengthen current conditions.
Trump administration signals possible tariffs relief for Canada and Mexico.
Corn, soybeans and wheat faced followthrough selling overnight in reaction to the start of a tariffs war with major trading partners.
Based on our Crop Condition Index, all states except Kansas (unchanged) and Colorado (up 1 point) declined during February.
Corn inspections during the week ended Feb. 27 rose 185,000 MT from the previous week and landed near the upper end of analysts’ pre-report range. Wheat inspections rose modestly, while soybean inspections declined 183,000 MT.
Corn and soybeans are under light pressure with wheat futures higher to start the week. Cattle futures are lower with lean hogs mixed...
Wheat futures mildly supported by sharp losses in the U.S. dollar.