Agriculture News
USDA’s October production and carryover figures were lower than pre-report estimates, though the most notable miss was the 4 MMT difference in new-crop global soybean carryover vs. expectations.
The Dec. 1 feedlot inventory fell 2.6% from year-ago, the third straight month with a year-over-year decline.
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Export sales data for week ended Dec. 15 showed soybeans falling short of expectations by 64,000 MT, with corn and wheat both low range. Cotton export sales reflected a nearly 90,000 RB net reduction for the week.
Export inspections for week ended Dec. 15 proved mid-range for corn, while soybeans and wheat landed towards the lower end of pre-report expectations.
Short-term trend turns bearish for lean hog futures.
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Big weekly gains in cash grain and soybean prices.
Rural Mainstreet Index registers sight decline in optimism on farmland and ag equipment.
Weekly export data for week ended Dec. 8 showed corn topping expectations by nearly 60,000 MT, with wheat nearly 120,000 MT above the top-end range. Soybean export sales breached the top-end range by 943,000 MT.
The National Weather Service (NWS) 90-day forecast continues to call for increased chances of below-normal precip across most of HRW wheat areas during the January through March period.