Agriculture News
Weekly new-crop corn and soymeal sales for the week ended July 18 each exceeded analyst’s expectations, while new-crop soybean sales were within the upper-end of the pre-report range.
Frozen beef stocks declined more than average during March, signaling demand remains strong. Pork inventories built contra-seasonally last month.
USDA’s Animal and Plant Health Inspection Service (APHIS) will require testing for the H5N1 virus in dairy cattle crossing state lines. Any detection of the disease must also be reported.
The HRW CCI rating has declined each of the three weeks this spring, while the SRW rating has improved each week.
Weekly corn inspections for the week ended April 18 exceeded pre-report estimates by 120,000 MT, while soybeans and wheat were within expectations.
Marketings also dropped sharply during March.
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Creighton University’s survey finds bankers remain pessimistic on economic outlook.
The 90-day outlook calls for above-normal temps over most areas of the country, with “equal chances” of rainfall over most of the Corn Belt.
Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.