Southern U.S. sees biggest reduction in drought area over past week
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A handy guide to USDA's 2-digit color grading system for cotton...Pro Farmer's Spencer Langford notes quality concerns are on the rise after Hurricane Isaias drenched parts of the Deep South.
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Bill Watts 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.
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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.
Bill Watts retweeted
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%.
Absolutely stunning price spikes in wholesale diesel today; Up 18cts/gal Gulf Coast and East Coast; but up 28cts/gal in Southern California and 25-30cts/gal in Great Plains and Great Lakes. Market clearly not believing that Russian oil is on the way.
Bill Watts retweeted
So it’s clear it’s 100%.
Still waiting on 2026/27 split scenario and official release.
Lee Zeldin is currently offering an address. Expectation is release shortly.
Stay tuned.
H/t: @ElizabethElkin
'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.
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Bill Watts retweeted
Given all the questions about Nebraska corn yield estimates out of the October crop progress report from @NASS let’s clarify a few things about how the yield estimate does or does not come together based upon your counts.
Bill Watts retweeted
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...
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Zhang Zhu, China’s minister of agriculture and rural affairs, said Tuesday that China will raise grain production capacity by maintaining acreage levels and boosting yields, targeting capacity at 725 million tons by the end of 2030, stepping up corn and soybean production in particular. The report said he noted that while staple grain supplies were ample, feed grains such as corn remained relatively tight.
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Senate Ag Chair John Boozman tells @ChipFlory that year-round E15 provisions in Senate farm bill and standalone House bill can be combined. "We'll marry those up and figure out a path forward for E15."
USDA says 17% of soybeans harvested as of Sunday, matching the 5-year average. Iowa soybean harvest just 3% complete vs 5-year average of 17%.
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Bill Watts retweeted
The twin trends of extended days on feed and ever rising slaughter weights are set to hit a hard ceiling, marking a crucial turning point in cattle-market fundamentals.
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Bill Watts retweeted
In this week's podcast, @iwatchcorn and @wlwatts discuss the Trump-Xi summit, look ahead to quarterly grain stocks and update western Corn Belt harvest delays. @HillariMason explains why surging diesel costs hit the bottom line twice.
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Bill Watts retweeted
FWIW, no mention of additional Chinese ag purchase targets. Only the creation of an ag working group under the Board of Trade.
whitehouse.gov/fact-sheets/2…
Bill Watts retweeted
NEWS - Chris Wright throws some cold water on Trump backing diesel export ban: “The blunt tool of banning diesel exports definitely doesn’t work.:
Bill Watts retweeted
Interesting study I put together on pod weights, which have trended lower for the past four years, and how that impacts yield.
Lower pod counts found on Crop Tour contrasted with USDA’s higher figures — here’s what the math says about the potential for a record soybean crop.
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