It is now 3 May, and little planting progress has been accomplished across the Corn Belt and northern Plains. The weather remains too wet and too cold to get the planters rolling in all but a few parts of the country. The first map below shows where there are problems with flooding. Virtually every river and stream from the North Dakota/Canada border down to Texas are in some degree of flood stage. The CME declared force majeure this morning across the entire Mississippi and Illinois River systems. Water levels are too high to load barges. The Mississippi River set a new all-time, high-water mark this week in Davenport, Iowa. The previous record was established during the massive floods of 1993.
The seven-day precipitation forecast...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
