Agriculture News
Beef stocks declined less than average during the month, while pork inventories built more than normal.
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Soymeal sales during the week ended May 16 landed short of pre-report expectations and were down 52% from the previous week. Meanwhile, corn sales rose 23% from the previous week.
Markets signal reduced odds of more than one rate cut this year following the release of minutes from latest monetary policy meeting.
Iowa State University’s annual survey finds steady cash rents for 2024.
Weekly changes in CCI ratings were led by top producers Kansas (HRW) and Illinois (SRW).
Short-term trend shifts from bullish to neutral for corn.
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RMI registers negative for ninth consecutive month.
During the week ended May 9, weekly pork sales totaled 21,100 MT, a marketing-year low, while soybean sales missed the pre-report range of estimates, falling 38% from the previous week. Weekly corn sales dropped 17%.