Today’s Drought Monitor map (see below) reflects the worsening moisture conditions across the heart of the U.S. production belt.
Worse, the heat is about to intensify and thus quickly deepen the root level water deficit. Already 57 percent of the corn and 51 percent of the soybeans are in drought. Some have compared the map to June of 2012, a similarly early drought year that saw corn production fall by 12.5 percent. Soybeans are less impacted by early season dryness but in 2012 production fell by 2.3 percent. The market reacted today by larding up on weather premium. Corn and soybean prices are now at two- and one-month highs, respectively. USDA’s export sales report was better overall than a week earlier. Whea...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
