Agriculture News
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The International Grains Council released its initial projections for 2024-25
Weekly corn sales during the week ended March 7 totaled 1.28 MMT, up 16% from the previous week, while soybean and wheat sales each faded, down 39% and 69%, respectively. Wheat sales were at a marketing-year low.
Soybeans extended Monday’s declines overnight, while corn and wheat pulled back from yesterday’s gains.
Weekly corn inspections totaled 1.122 MMT during the week ended March 7, down slightly from the previous week, but near the top end of the pre-report range. Soybean inspections fell notably on the week.
Short-term trends turn sideways for corn, soybeans, soymeal and soyoil.
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Corn and soybean ending stocks were unchanged from February, while wheat ending stocks rose 15 million bu. However, global corn and wheat ending stocks were lower than pre-report estimates; soybeans were as expected.
February’s Farm Financial Performance Index reading of 85 was 1 point lower than January and 13 points below its most recent peak in December.