Agriculture News
USDA reported weekly soybean sales of 1.372 MMT during week ended Oct. 12, up 30% from the previous week and 92% from the four-week average. Corn and wheat sales were steady on the week.
As of Jan. 3, 70% of the U.S. was covered by abnormal dryness/drought, down four percentage points from the previous week and 15 points below the peak in early November.
Farmers National Company reports strong gains in farmland prices.
Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.
The Purdue University/CME Group Ag Economy Barometer rallied sharply in December to the highest reading for 2022.
Short-term trends are bullish for grain and soy futures.
Export sales data for week ended Dec. 22 reported wheat sales topping expectations by over 28,000 MT, while corn and soybean sales were mid-range.
Corn export inspections for week ended Dec. 22 were up on the week and short of the high end of expectations, while soybeans landed on the upper end of trade expectations, but trailed the previous week by 210,237 MT.
Short-term trend turns up for several markets, including corn, soyoil, SRW wheat and live cattle.
The Dec. 1 hog herd fell 1.8% from year-ago and was 210,000 head less than the average pre-report estimate implied.