Agriculture News
November’s 12-point rise in the Current Conditions Index to a reading of 113 was primarily responsible for this month’s sentiment improvement as the Index of Future Expectations only improved by 2 points.
FAPRI’s baseline projections are based on data as of January.
HRW wheat conditions are still below when the crop entered dormancy and historically low.
Weekly export inspections for week ended March 23 revealed a notable drop in corn inspections from the previous week, while wheat and soybeans were each higher on the week.
Choppy price action is being seen in the grain and soy markets to open the week ahead of key USDA data on Friday.
Corn acres are expected to rise nearly 4%; soybean acres expected to be virtually unchanged
Access this week’s newsletter here.
Beef stocks declined in February, though more than average. Pork stocks rose last month, though less than normal.
ISPFMRA annual survey finds strong gains in farmland values
This year’s negative PDO has been significantly negative for 21 straight months. At the same time, NOAA predicts a strong evolution toward El Niño late this spring and early summer.