The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
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.
Soybean exports top 1 million metric tons.
Digest of this morning's key figures.
China buys corn; wheat sales below expectations.
Soybean sales below expectations.
Crop receipts are expected to rise over 16% in 2011.
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.
Expect La Nina to peak in November-January.
Says additional rains have helped, but more are needed.
Corn and wheat sales below expectations.
Report highlights
Active weather pattern around next 10-plus days.
Rains in the forecast for Midwest, helping to alleviate drought.
Wheat and soybean sales come in below expectations.
As expected, leaves federal funds rate unchanged.
Texas beef producers are exploring the use of whole cotton plants as a protein source for cattle due to extreme drought conditions.
Markets have positive financial news to digest today.
Beef and cotton sales improve on last week's pace.
30-day outlook calls for below-normal precip across Central & Southern Plains
Beef sales slightly below last week's level.
Showers also benefit crops in Australia.
Soybean sales within expectations.
The drought losses have reached record levels mainly due to farmers failing to cash in crops during times of high commodity prices.
It appears that following 2006, we entered a new climate pattern, one with warmer and drier weather in the South.
While not a drought buster, the welcomed rains will help fill dried tanks and recharge dwindling water supplies.
USDA has designated 213 counties in Texas as disaster areas after one of the worst droughts in more than a century.
Wheat carry also trimmed vs. March
The Japanese earthquake could have a large effect on U.S. grain and beef exports, but likely will have only a minor effect.
Senators urge "common-sense" approach to EPA regulations.
Program to have 31.2 million acres in it as of Oct. 1
