Agriculture News
“Packers are scrambling,” Derrell Peel, an Oklahoma State University agricultural economist, told Reuters.
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Weekly corn sales notched net reductions in week ended April 27, while shipments rose to a marketing year high of 1.699 MMT. Soyoil, cotton and pork shipments also reached marketing-year highs during the week.
Mato Grosso grain storage deficit could reach 64 MMT...
While the wheat crops in Oklahoma, Colorado and Montana showed modest improvement, the other states declined.
Weekly corn inspections topped pre-report estimates of 1.35 MMT for week ended April 27, while wheat was near the top-end pre-report range and soybeans mid-range.
Wheat futures opened the week under heavy pressure after the best rains across Plains HRW areas last week.
Short-term trends turn bearish for grain and soy futures.
EPA Administrator Michael S. Regan said, “Allowing E15 sales during the summer driving season will not only help increase fuel supply, but support American farmers, strengthen U.S. energy security. . .