U.S. Department of Agriculture
Details are minimal so it’s not clear how there will be enough staff to provide the Milk Production, Crop Production, Cattle on Feed and WASDE reports with many still furloughed.
On Wednesday, Secretary Rollins announced a plan for American ranchers and consumers as Trump posted comments on social media regarding tariff impact on beef prices.
Speaking with Fox News, Rollins noted USDA’s readiness to issue the promised aid.
The government shutdown halts USDA marketing loans, cutting off a vital tool for farmers and adding financial strain during harvest season. Experts warn the impact could deepen.
Dave Chatterton with Strategic Farm Marketing says corn, soybeans and wheat were all lower on Thursday after running into solid chart resistance. However, basis is firming. So, what does that signal?
Don Roose with U.S. Commodities says soybeans ended higher for second day as it looks like the market is trying to carve out a seasonal low.
Jon Scheve with Scheve Grain says soybeans are seeing follow through buying on Wednesday as more farmers are storing soybeans this fall and waiting for an improvement in basis and/or prices with the possibility of a China trade deal.
Brad Kooima, Kooima Kooima Varilek, says the market is staying intact and absorbing a great deal of bearish news including last week’s lower fed cash trade and lower cutouts.
USDA’s Quarterly Stocks report on Tuesday provided a bearish surprise for the corn market.
Bryan Doherty, Total Farm Marketing, says soybeans extended gains off of Wednesday’s reversal on technical buying and short covering but with hopes of a China deal. The trade aid announced will also keep farmer selling at a minimum.