Agriculture News
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.
USDA reported weekly export inspections of 1.264 MMT soybeans during the week ended Jan. 11, which rose 224,000 MT from the previous week. Meanwhile, corn and wheat inspections declined on the week.
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USDA pegged total U.S. corn and soybean production at 15.342 billion bu. and 4.165 billion bu., respectively amid a 2.4 bu. and 0.7 bu. bump in the national corn and soybean average yield estimate from November.
FNC sees stable farmland values.
Weekly soybean, wheat and soymeal sales fell short of expectations for the week ended Jan. 4, while corn sales were near the low-end of the pre-report range.
During the week ended Jan. 4, weekly wheat inspections topped pre-report estimates by over 140,000 MT, while soybean inspections were just shy of the pre-report range of 700,000 MT to 1.125 MMT.
Short-term trend turns bullish for live cattle and feeders.
