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Cedar Falls, IA
Joined January 2020
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USDA reported private daily export sales of 127,000 MT of corn for delivery to Japan, 558,000 MT of soybeans for delivery to China and 236,000 MT of soybeans for delivery to unknown destinations - each for delivery during the 2026-27 marketing year.
September PPI up 1.3% in September, biggest monthly rise since March 2022. PPI up 6.3% year over year, accelerating from 5.6% in August and well above expectations.
USDA says private exporters reported sales of:
-330,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year
-283,450 metric tons of soybeans received in the reporting period for delivery to unknown destinations during the 2026/2027 marketing year
Concerns about the quality of the U.S. cotton crop were on the rise after Hurricane Isaias struck the central and eastern portions of the Deep South late last week. Color grades were already lower before the storm hit.
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Pro Farmer retweeted
I put together a piece on Friday's crop production report, namely, looking at the objective yield data. A lot of head scratching with this report given the anecdotal yield reports so far this year but I still believe we will see a sizeable drop from where USDA is at now.
profarmer.com/news/inside-us…
USDA confirms private sales of 470,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year.
Pro Farmer retweeted
Treasury yields and dollar jump after hot September CPI. Fed-funds futures traders price in better than 40% probability of October rate hike, up from 22% yesterday.
Gasoline up 9.1% in September, driving over half of all-items increase in September CPI. Food was flat in September, with beef & veal down 1%, ground beef down 0.8%.
September CPI accelerates to 3.7% year over year, faster than expected. Hotter-than-expected reading could shift bets on whether Fed stays on hold later this month.
Dry weather allowed producers to make up ground on corn and soybean harvest last week, though both remain behind the average pace for this time of year, USDA said in its weekly crop progress report released Tuesday afternoon.
Inside USDA’s math: A closer look at how USDA came up with its bearish October corn yield surprise.
profarmer.com/news/inside-us…
In this morning's First Thing Today:
-Report says China state buyers bought 8 to 10 cargoes of U.S. soybeans this week.
-September CPI data on deck with October rate decision on the line.
-IEA sees global diesel squeeze continuing well into 2027.
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Former USDA chief economist Seth Meyer says Nebraska corn data in last week's USDA report raises fair questions, but he doesn’t think sampling alone explains the jump.
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Pro Farmer retweeted
'Perhaps larger auction runs are coming yet this fall...or maybe the cattle just aren't there,' says Oklahoma State's Derrell Peel, noting that October feeder auction volumes don't indicate a strong fall calf run -- a surprise given poor forage conditions.
profarmer.com/news/low-oklah…
In this morning's First Thing Today:
-Downbeat tone for grains overnight.
-Unsettled weather heads for Midwest.
-Global fund managers grow more bullish on commodities.
profarmer.com/news/first-thi…
Pro Farmer Podcast: @HillariMason, @iwatchcorn and @wlwatts break down USDA's bearish shock, how much downside remains for corn, and how to handle quality issues...
profarmer.com/news/pro-farme…
In this morning's First Thing Today:
-Corn attempts to stabilize after Friday's bearish USDA report shock.
-Ukraine says Russia breaches energy 'cease fire'.
-Iowa in focus as battle for control of Congress shows further shifts.
profarmer.com/news/first-thi…
Corn yield landed well above analysts’ average pre-report estimate, while soybean yield was slightly above.
profarmer.com/news/agricultu…
-USDA pegs average corn yield at 181.2 bu/acre, up 2.7 from September
-Soybean yield at 53.1 bu/acre, up 0.3 from September
The El Niño weather pattern continues to strengthen, NOAA’s Climate Prediction Center said this week. The agency’s latest update indicates the phenomenon will continue to strengthen through the end of the year and that chances remain high for a historic event that exceeds the strength of previous El Niño events going back to 1950. “With an event of this magnitude, the chances of experiencing impacts consistent with El Niño are larger, though not guaranteed,” the CPC said.
