Agriculture News
Corn and soybean inspections during week ended Dec. 7 declined 464,719 MT and 188,847 MT, respectively, while wheat inspections rose nearly 95,000 MT.
Concerns with the commodity price outlook and interest rates weakened farmer sentiment.
The HRW CCI rating is well below last fall and year-ago. The SRW rating is above both last fall and last year.
Wheat export inspections in week ended March 30 were reported at 168,543 MT, missing the low-end of the pre-report range by over 130,000 MT. Corn inspections were notable, but still lag last year’s pace by nearly 37%.
Short-term trends turn bullish for corn, soybeans, live cattle and feeder cattle
Soybean planting intentions and March 1 stocks came in lower than expected.
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USDA’s Quarterly Stocks data showed figures lower than the average trade guess, sending the soybean market higher, while the news also led corn higher, though gains have been capped by higher-than-expected acres.
Data was mostly neutral and shouldn’t have a direct impact on trade Friday.
USDA reported weekly soymeal sales of 377,900 MT in week ended March 23, which was up noticeably over the previous week and 81% from the four-week average.
March Iowa Chapter of the RLI finds slight boost in farmland values.