Government Shutdown Inevitable? What Will We Do Without USDA Reports???

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US House Rejects Trump-Backed Spending Bill
The House rejected a Trump-backed spending bill on Thursday night. The bill required a two-thirds majority but failed by a vote of 174 to 235, with nearly 40 Republicans voting against it. Without a deal, a partial government shutdown is set to begin tonight at midnight.
Soybean Futures Bounce Amid Bearish Market
Soybean futures bounced back on Thursday after hitting fresh lows earlier in the week. The March 2025 contract gained 13 cents on the day after breaking through technical support levels. Despite bearish fundamentals, the bounce maintained momentum overnight, although the contract may face technical resistance near the $9.82 level, a previous area of support. Corn futures also bounced, while wheat remained mostly lackluster in price action.
Drier Conditions Expected for Key Soybean Areas in Argentina
Key soybean areas in Argentina are expected to turn drier in the coming weeks. Recent below-normal precipitation has already affected corn and soybean regions, and the forecast predicts that Argentina’s soybean areas will receive only 46% of normal rainfall over the next two weeks. Argentina is projected to account for 12% of global soybean production this year. Meanwhile, Brazil’s weather forecasts remain favorable, with most key soybean areas expecting above-normal rainfall. CropProphet provides detailed weather maps to track these shifts.
Chicago Wheat Futures Decline for Sixth Consecutive Session
Chicago wheat futures declined for the sixth consecutive session on Thursday, with the March 2025 contract falling by as much as 1.9%. This marks the lowest level since late August. The decline was attributed to a strong US dollar and concerns about ample global wheat supplies. According to the USDA, global wheat production for the season is expected to be the largest on record.
US Soybean Export Sales Increase
US soybean export sales saw an increase last week, with 1.4mmt (52 million bushels) of soybeans sold. This was a 21% increase from the previous week but down 27% from the 4-week average. China was the largest soybean buyer for the week. Corn sales also saw an increase, with 1.2mmt (46 million bushels) sold, up 24% from the prior week. Wheat sales were strong as well, totaling 457,900mt (17 million bushels), a 58% increase from the previous week.
AGCO Shares Plummet Amid Struggling Farm Economy
AGCO’s shares tumbled by as much as 6.1% on Thursday before recovering slightly to close with a 3.8% loss. The decline follows AGCO’s announcement that 2025 net sales are projected to be around $9.6 billion, a significant drop from the $12 billion estimated for this year. The reduction is partly due to AGCO’s divestment of its grain-storage and livestock business, compounded by the struggling farm economy, which is expected to weigh on sales. North American retail sales are projected to decline by 25% next year.
USDA Drought Monitor Data: Conditions Improve in Some Areas
The latest USDA drought monitor data reveals that parts of the Corn Belt received precipitation last week. Drought conditions improved across portions of Ohio, Michigan, Illinois, Iowa, and Missouri, but worsened slightly in western Missouri. The High Plains saw scattered precipitation, and conditions improved in northeast Nebraska and southwest Kansas.