Narrow gain in May biodiesel production

U.S. biodiesel production was 154 million gallons in May, a five-month high and up 2 percent from May 2018. Manufacturers used 659 million pounds of soybean oil in May, and from January through May, soybean oil accounted for 56 percent of feedstock utilization, displacing [...]

Wheat futures market inverts post-WASDE release

On Thursday, Jul. 11, Jul-19 wheat futures rose 4.8 percent to a six-week high of $5.36 following the June WASDE release. This price is higher than both the Sep-19 and Dec-19 futures contracts, at $5.21 and $5.32, respectively. Jul-19 contract prices rose in reaction [...]

WASDE: New crop corn acreage & production forecasts increased

USDA forecasts U.S. corn acreage to increase to 83.6 million, up 1.2 million acres from the June WASDE report and the same figure reported on the June 28 Acreage report. The corn crop yield remained at 166.0 bushels per acre, 10.4 bpa less than [...]

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. 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, [...]