Most U.S. crop areas were dry over the weekend with mild to warm temperatures. But a weak high pressure ridge over the western part of North America should allow some rain to fall in the U.S. Northern Plains, Minnesota, Iowa and southern Canadian Prairies this week, reports World Weather Inc., who adds that Iowa and southeastern South Dakota should be among the wettest areas. Welcome rain fell in southwest Alberta, Canada over the weekend, with two more waves of precipitation expected for this spring wheat and canola producing regions. World Weather reports unsettled weather is likely for most of the Midwest, Delta and southeastern states over the next two weeks, providing timely moisture leading up to pollination. Tropical Storm force winds, dangerous storm surge and heavy rainfall likely across Florida as Elsa moves through the region.
The Senate and House are both on break for the Independence Day holiday. Work continues on getting enough votes for the nearly $1 trillion bipartisan infrastructure package, and even harder work for the $1.5 trillion to $2 trillion “human” infrastructure plan, despite far-left Democrats wanting a lot more.
Crop Consultant Dr. Michael Cordonnier lowered his U.S. corn yield estimate by 2 bu. to 175.5 bu. per acre this week. Cordonnier also lowered his U.S. soybean yield projection to 50 bu. per acre. Cordonnier also lowered his Brazilian corn crop estimate another 2 MMT to 88 MMT and his bias is lower going forward.
Prices for most ag commodities should fall slightly in real terms in the decade ahead as production improves to meet rising demand from a growing population, the U.N. Food and Agriculture Organization (FAO) and the Organization for Economic Cooperation and Development (OECD) said in a joint report on their outlook for 2021-2030.
Energy company TC Energy has said it is seeking $15 billion in damages from the U.S. government over President Joe Biden’s decision to cancel the Keystone XL pipeline project.
The White House said it was reaching out to victims of a wide-ranging ransomware outbreak that is centered on a Florida-based information technology company and has had an impact on hundreds of businesses worldwide. Biden warned Russian President Vladimir Putin that the U.S. “will respond” if Russia was behind Friday’s mass cyberattack.
China is launching a pilot program working to insure all pigs at different growing stages and all pig farms in some counties over the next three years, according to a government notice released today.
Average cattle weights stood at 1,351 lbs. the week ending July 3, which was 4 lbs. lower for the week and 15 lbs. lighter than year-ago. That signals marketings have improved and dryness and heat are taking a toll.
August lean hogs posted a technically bearish weekly low close on Friday, signaling followthrough selling is likely this week.
