Cotton
Highlights of USDA’s Weekly Export Sales Report.
USDA Weekly Export Sales Report highlights.
Texas agricultural losses due to the 2011 drought reached a record $7.62 billion, making it the most costly drought in history.
Soybean export sales disappointed, wheat sales were within expectations.
Soyoil and soymeal export sales were also above expectations.
Corn exports a marketing year high at 1,300,800 MT.
China buys corn; wheat sales below expectations.
Soybean exports top 1 million metric tons.
30-day outlook calls for below-normal precip and above-normal temps across Central & Southern Plains.
Cotton sales to China again bulk of weekly total.
Extensive drought is causing livestock producers to look to alternatives such as whole cottonseed.
Active weather pattern around next 10-plus days.
Rains in the forecast for Midwest, helping to alleviate drought.
Beef and cotton sales improve on last week’s pace.
Markets have positive financial news to digest today.
Beef sales slightly below last week’s level.