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WEAK CROP CONDITIONS LIMIT PRICE LOSSES.
Grains and soybeans were little changed in overnight trading as investors weigh mixed weather throughout the Midwest and trade uncertainty between the U.S. and China.
DES MOINES, Iowa -- The U.S. corn and soybean crops conditions did not improve in the past week, according to the USDA’s weekly Crop Progress Report released Monday.
USDA CROP PROGRESS REPORT GRADES CORN CONDITION SLIGHTLY BETTER
The loss of nearly 6 million acres of corn and soybeans to a cold and rainy planting season this year will be felt into autumn 2020 and beyond, said the government on Thursday. Fat U.S. stockpiles will be drawn down to compensate for short crops; the soybean inventory, expected to reach record size this year, would be slashed by one quarter before the 2020 harvest begins.
Weather : Light to moderate rainfall will find its way to much of the central U.S. through Friday, per the latest 72-hour cumulative precipitation map from NOAA. The rest of this week through the weekend should feature mostly normal or slightly below-normal daytime highs.
Large amounts of meat available worldwide will soon be shipped to China. That’s one of the conclusions by agribusiness bank Rabobank in its latest update on African Swine Fever (ASF) in China and South East Asia.
China’s pork consumption has dropped by 10% to 15%, year-to-date, by our estimates, driven by food safety concerns. The level of consumption change varies greatly between the different distribution channels. Looking forward, and reflecting on the current situation and trends, it is quite possible we have seen the ‘peak’ of pork consumption.
Occurrence: Sub Saharan African countries where there is a reservoir in warthogs, excluding South Africa, some Indian Ocean Islands, Georgia, Russia and Eastern European countries where it is mainly present in wild boar, also Sardinia. Age affected: All ages. Cause: African Swine Fever virus. Effects: Highly contagious and often fatal disease, beginning 4-5 days after infection and causing fever followed by dullness, breathing difficulty, vomiting, coughing, nasal and ocular discharge, abortion in pregnant sows, cyanosis of the extremities and death within 7 days. Chronically affected pigs are emaciated and often lame with skin ulceration.
For the first time, Laos has confirmed African Swine Fever in the country. In a report to the World Organization for Animal Health (OIE), the country stated that a cluster of 7 villages were affected in the south of the country.