Agriculture News
Weekly corn inspections for the week ended April 18 exceeded pre-report estimates by 120,000 MT, while soybeans and wheat were within expectations.
Weekly corn sales during week ended Oct. 19 totaled 1.351 MMT, which topped pre-report expectations, while soybean sales totaled 1.378 MMT.
Beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Sept. pork stocks dropped, whereas there is normally a small buildup in supplies.
Iowa’s farmland values, which saw consecutive record-breaking increases for two years, are now showing signs of cooling, though they remain near historic highs.
USDA reported wheat inspections of 168,868 MT during week ended Oct. 19, which were down 187,000 MT from last week and below pre-report estimates.
Soybeans and corn are under pressure to open the week, while wheat is firmer.
Short-term trends turn bullish for corn and soymeal.
USDA showed Oct. 1 Cattle on Feed in large (1,000+ head) feedlots population up 0.6% above year-ago, easily topping industry expectations.
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Monthly survey finds most negative attitude since May 2020.
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across the eastern half of Kansas, along with most of Texas and Oklahoma through January.