Agriculture News
Chicago Fed Bank Reports 1% Yearly Decline
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
Analysts expected modest declines in 2024-25 ending stocks for corn and soybeans, though USDA kept the estimates unchanged from last month. Global corn, soybean and wheat ending stocks were each below their average pre-report estimate.
During the week ended Feb. 6, weekly wheat inspections rose 283,000 MT from the previous week. Meanwhile, corn and soybean inspections were both near the upper end of pre-report expectations.
Corn, soybeans and wheat are off to a higher start this morning. Cattle futures are narrowly mixed with lean hogs under pressure...
Corn sales during the week ended Jan. 30 totaled 1.48 MMT, rising 9% from the previous week and 32% from the four-week average.
During the week ended Jan. 30, soybean inspections rose 275,000 MT from the previous week, with both corn and soybean inspections ending near the upper-end of pre-report expectations.
Corn and wheat are under pressure with soybeans mostly firmer to start the week. Cattle and lean hog futures are lower...
Soybean sales during the week ended Jan. 23 were down 71% from the previous week, missing analysts’ pre-report range. Corn and wheat sales were as expected
Weekly wheat inspections during the week ended Jan. 23 rose 223,000 MT, topping pre-report expectations, while soybean inspections missed pre-report expectations, falling 250,000 MT from the previous week. Corn inspections declined 295,000 MT.