Sluggish exports continue to be the main theme in the grain markets with USDA cutting both old and new crop ending stocks. Arlan Suderman of StoneX Group says the bigger story moving forward might be soft corn demand.
The latest Ag Economy Barometer shows farmer sentiment has soured as crop prices have tumbled over the past month, but it's not all gloom and doom. Strong working capital can help address the downturn in farm country.
Last week, 34% of the U.S. corn crop was covered in drought. This week it jumped to 45%. When it comes to soybeans, 39% are experiencing drought, which is an 11-point jump in a week's time.
As the 2022 marketing year comes to an end, Jon Scheve likes to review his trade decisions to evaluate performance and identify areas of improvement. He starts with his soybean basis decisions.
Erin Borrow, U.S. Meat Export Federation; Dermot Hayes, Iowa State University, and Steve Meyer, Partners for Production Agriculture, talk markets this weekend on U.S. Farm Report.
