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Wow. This week saw corn prices top $6 and soybean prices top $15.
Grains lower still removing weather & war premium, ignoring the 4.85 mb new crop beans to China. Live cattle lower with sloppy and limited cash, hogs consolidating. Kent Beadle, Paradigm Futures has more.
Crop condition ratings seemed to be in a free fall in early summer, but July’s rains and cooler temperatures sparked a rebound. The heat this week means crop conditions could be set to take another hit.
AgDay TV Markets Now: John Heinberg of Total Farm Marketing says corn and soybeans remove weather premium and could see more technical selling pressure after chart damage.
China has maintained its position as the world’s largest meat importer since 2019, despite a recent decrease in imported meat volumes, according to a USDA Economic Research Service report.
Arizona is breaking records for consecutive days with temperatures 110 degrees or above. Yuma County, Arizona farmer John Boelts says he always plans for high heat in July and grow crops like cotton instead of lettuce.