Farmers were less optimistic about the ag economy in June, according to the Purdue University/CME Group Ag Economy Barometer, which dropped 12 points.
With data from the recent survey-based acreage and grain stocks reports, the U.S. Department of Agriculture lowered new corn and soybean production estimates in its supply and demand estimates report.
U.S. winter wheat production was forecast lower in the U.S. Department of Agriculture’s crop production report.
At a glance, the July agricultural supply and demand estimates report looked positive for the market with lower than expected ending stocks, but the trade thought otherwise.
The U.S. Department of Agriculture’s Farm Service Agency extended the prevented planting crop reporting deadline for producers affected by spring flooding, excessive moisture, or qualifying drought.
Although Elaina and Garrett Fales have no farming background, they have developed a cut flower production farm that markets primarily to florists.
“I” state farmers switched to more corn and less soybean planted acres, the U.S. Department of Agriculture found in its June planted acres survey.
An end of the third quarter snapshot of grain stocks were rolled out by the U.S. Department of Agriculture’s National Agricultural Statistics Service.