Prices of corn, soybeans and wheat continue to move erratically, reflecting both new information and the lack of some information, according to University of Illinois agricultural economist Darrel Good: "The markets are supplied with a steady flow of data on consumption in some markets, particularly the export markets and the ethanol market. Less frequent information is available about consumption in other markets, particularly the domestic feed market." For corn, the available data point to a continuation of a high rate of domestic consumption and a slow pace of export shipments. For soybeans, weekly export inspections have dropped below the level needed to reach the USDA projection of 1.55 billion bushels for the year ending on August 31. Inspections for the four weeks ended May 26 averaged 8 million bushels per week, compared to the 11.5 million average needed to reach the USDA projection. "The domestic soybean crush pace continues to be slow with the reported April c...
Commodity reports and news related to the marketing of produce and other goods.