USDA October dairy reports shows September milk production up 2.4%

National herd recovery continued in September with milking cows up 6,000 head over August and up 46,000 year on year for the 24-state average. Milk yield was good, registering 36 lbs above September 2019, and total milk production increased 2.4 percent above prior year’s [...]

Corn rises again

Nothing seems to be stopping speculative interest in corn (and other ag commodities). Dec-21 corn futures continued to climb higher last week, testing contract highs near $4.20 per bushel, a value last reached in July 2019. The current net long position in ag commodities [...]

Soybean oil export sales pick up

The strong end to the 2019/20 soybean oil exports marketing year may have left the market a little tuckered out—or, perhaps, sufficiently supplied—and we’ve seen less shipping activity so far in 2020/21 compared to the last couple seasons. With this year barely started, however, [...]

South American planting eases forward

In the week ending Oct. 16, early-corn planting in Argentina rose to about 47 percent planted, up 5 points week on week but 15 points below the five-year average. Brazil's early-corn planting rose to over 47 percent, up 8 points week on week but [...]

Despite record stocks, natural gas prices surge to five-year high

Last week, Hurricane Delta tracked across the Gulf of Mexico following a similar trajectory to Hurricane Laura over a month ago, through the primary offshore drilling region off the coast of Texas and Louisiana. As a safety precaution, offshore platforms were again evacuated and [...]

More sales, more bullishness for soy complex

A week that started with a post-WASDE sell-down found support in weather concerns and renewed Chinese buying of soybeans. The soy complex seems set to remain the overall market leader for grain/oilseed futures in months ahead due to a tight U.S. balance sheet and [...]

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