USDA estimates corn acreage up, soybean down

The USDA Acreage report surprisingly estimates planted corn acreage at 91.7 million acres, a few million acres above pre-report estimates and slightly higher than the June WASDE forecast. On the other hand, soybean planted acreage is estimated at an even 80 million acres, a [...]

U.S. may expand 2018/19 Mexican sugar import quota

Official estimates peg October-May imports of Mexican sugar at 596,739 metric tons raw value (MTRV), down 17.5 percent from the 723,704 MTRV imported during the same months of 2017/18. Year-to-date imports are down 19.6 percent from the average of the three market years that [...]

Hemp-based CBD oil is a lucrative ingredient & more

Cannabidiol (CBD) is a compound in the flowers and leaves of industrial hemp plants that can be extracted and then refined into edible or topical oils. Unlike tetrahydrocannabinol (THC), derived from cannabis, CBD has no psychoactive effects—in other words, CBD will not get a [...]

U.S. corn & soy condition index slightly low

As of June 23, U.S. corn rose to 89 percent emerged, a 10-point jump from the week prior, but on pace for the slowest year on record. Ohio and Michigan are both more than 30 points behind their five-year emerged averages while Indiana, Missouri, [...]

Ethanol production, use, and ending stocks all dip slightly last week

Ethanol production dipped slightly to 1.08 million barrels per day during the week ending June 14, down about 1 percent from the week before and up just over 1 percent YOY. Weekly use by blenders and refiners also fell slightly from the previous week [...]

Pain as India’s monsoon drags its feet

On the heels of deficient pre-monsoon rains for India, an already delayed monsoon may have been further slowed and weakened by the now-dissipated Cyclone Vayu. As of most recent reporting by the India Meteorological Department (colloquially, “Met”), the monsoon has reached less than 15 [...]