BEEF EXPORTS: Beef export sales for 2025 totaled 15,300 metric tons this week, up 71% from the previous week and 21% above the prior 4-week average, marking the highest total in nine weeks. South Korea is the top export destination so far in 2025, followed by Japan and China.
US Cattle Report by National Beef Wire
July corn futures have seen notable swings in May, starting the month at $4.7225 and dropping to $4.425 by May 13—a decline of 29.75 cents during that stretch. The market then rebounded, climbing 20.5 cents over six of the next seven sessions to reach $4.63 on 5/22. July corn closed on Friday at $4.595, down 3.5 cents on the day and 12.75 cents below its opening level for the month. (corn futures)
CLARA (Cattle Livestock Analytics and Reporting AI)
Cattle Producer Weather Report: El Reno, OK saw heavy morning rain tapering by midday with a high near 71°F. Amarillo, TX faces scattered afternoon storms and 72°F. Garden City, KS clears to sun with a high of 74°F, while Aberdeen, SD turns breezy with a high near 74°F and a chance of evening showers.
CLARA: Cattle Barometer
STOCK UPDATE: Stock indexes are sharply lower for the second session, with the S&P 500 down 98.75 points to 5,750.97, the Dow down 787.63 points to 42,403.61, and the Nasdaq down 278.11 points to 18,072.08. The S&P 500 and Nasdaq 100 have dropped to 4-month lows, while the Dow Jones is at a 7-week low, driven by escalating global trade tensions. New U.S. tariffs on imports from Canada, Mexico, and China took effect today
Market Update
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
Gas prices up 5 cents this week to $3.13, down $0.06 from last year. Diesel prices up slightly this week to $3.67, down $0.44 from last year
Cash Prices
USDA GRAIN STOCKS REPORT: Corn stored in all positions on December 1, 2024 totaled 12.1 billion bushels, down 1 percent from December 1, 2023. Of the total stocks, 7.66 billion bushels are stored on farms, down 2 percent from a year earlier
Market Update
USDA CROP PRODUCTION: Corn production for grain is projected at 15.1 billion bushels, slightly below the previous forecast and down 1% from 2023
WASDE
CORN PLANTING PROGRESS: U.S. at 83%; Iowa at 88%; Kansas at 85%; Missouri at 87%; Texas at 92%; Ohio at 79%
US Cattle Report by National Beef Wire
Disney posts surprise profit in streaming entertainment, raises earnings forecast... Walt Disney's streaming entertainment unit posted its first profit, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts were yielding results. (Reuters)
Market Update
COTTON PROGRESS: 54% of the cotton in the U.S. had been planted by May 22nd, compared to 37% last week and 47% last year
National Cotton Wire
AMARILLO WEATHER: Scattered showers and thunderstorms, then showers and possibly a thunderstorm after 8am. High near 52. Northeast wind 10 to 15 mph increasing to 15 to 20 mph in the afternoon. Winds could gust as high as 30 mph. Chance of precipitation is 90%. New rainfall amounts between a half and three quarters of an inch possible (NWS)
Weather
DROUGHT MONITOR: It’s hot and dry in the Southwest. Exceptional drought (D4) has developed or expanded in parts of Utah and New Mexico. Meanwhile, most states in the West and Great Plains saw improvements, except for areas of Montana and Texas
Weather
DROUGHT MONITOR: Drought coverage across the U.S. and Puerto Rico topped 40% (40.01%) for the first time since late September and for the fifth time in 2021. The lowest percentage of drought coverage across the U.S. & P.R. so far in 2021 occurred in late May (36.3%)
Market Update