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U.S. diesel prices are the highest ever, with warnings of shortages, especially in the eastern U.S., and the most intensive part of the farming season is still ahead.
Soybean prices are up 7.4% since May 9, with prices surging again this week. The July soybean contract posted closes in the green four out of five days this week, kicking the week off with a 63¢t price jump.
USDA made a historic move with its May 12 World Agricultural Supply and Demand Estimates report, by dropping the national corn yield below trendline.
A bullish set of fundamentals pushed corn prices to this high level, says Dan Basse, president of AgResource Company, and those factors could actually be getting more bullish.
For 17 straight months, the rural economy has posted healthy and consistent growth. That’s according to the March Rural Mainstreet Index (RMI) from Creighton University.
Cooler than average temperatures, combined with rain and snow, have pushed many Midwest farmers’ plans to plant back a few more weeks. The slow planting pace is impacting commodity prices, and it’s not even May.
A rising tide lifts all boats, and that might be what’s happening in the grain and oilseed markets. This week kicked off with another big rally in prices.
Chicago Board of Trade (CBOT) corn futures topped $8 a bushel and reached their highest price in nearly a decade on Monday on concerns over unfavorable U.S. crop weather and the Ukraine war disrupting grain exports.
CF Industries is warning customers that fertilizer shipments might be delayed or may not reach farmers after Union Pacific (UP) railroad mandated certain shippers to reduce the volume of private cars on its railroad.
The March CME/Purdue Ag Economy Barometer posted the weakest farmer sentiment reading since May 2020, as the survey found the biggest concern among producers continues to be “higher input costs.”