Crops have held steady over the last week with conditions showing little change, and weather over the next week should be favorable, as the growing season pushes on.
USDA’s Weekly Crop Progress Report shows the nation’s corn crop is unchanged, holding at 67 percent good-to-excellent. 68 percent of soybeans are sitting in the top category. Spring wheat lost some traction and is at 72 percent good-to-excellent, which is down two points from last week. Also, the winter wheat harvest is in the home stretch at 93 percent complete.
Weather in the flyover states is expected to be ideal in the coming week.
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Weaker U.S. dairy prices come as value-added exports expand and ingredient inventories tighten, creating mixed market signals for producers.
While the agriculture industry hoped details on proposed “bridge” payments for farmers would be released this week, Ag Secretary Brook Rollins said the USDA is still working with the White House on the finer points.
China’s renewed purchases signal improving sorghum demand at a time when export markets are otherwise uneven. Meanwhile, agriculture groups across the U.S, Canada, and Mexico want to protect close trade relations.
Pressure on grain storage capacity and stronger export positioning are pushing more grain onto railroads, highways, and river systems as logistics become a key bottleneck this fall.
Despite the need for swift action, many ag lawmakers and industry groups argue that farm aid alone will likely not be sufficient to help farmers without improved trade relations with China.
