Agriculture News
USDA reported weekly soybean inspections of 349,000 MT for the week ended May 2, which rose 73,000 MT from the previous week. Corn, soybean and wheat inspections were each within pre-report ranges.
Weekly corn, soybean and wheat sales for week ended Nov. 23 each topped pre-report expectations and rose notably from the previous week.
In November, approximately 5.78 million birds have been affected by bird flu, a substantial rise from the 1.37 million reported in October.
The final CCI rating ahead of dormancy was equal to the five-year average for HRW and 14.8 points above average for SRW.
Weekly corn inspections missed the pre-report range and fell nearly 200,000 MT from the previous week, while wheat fell nearly 90,000 MT and soybeans nearly 190,000 MT.
Short-term trend turns bearish for lean hog futures.
Third quarter banker survey notes declining incomes, still low loan demand and rising farmland values.
USDA’s Weekly export inspections data showed corn, soybean and wheat inspections within pre-report ranges, though soybean inspections are increasingly falling behind year-ago.
The report data was virtually inline with expectations, which should have little impact on prices Monday.
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The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.