Lower corn feed demand revealed in July WASDE

In the July WASDE, U.S. corn feed demand and ethanol demand in 2019/20 were lowered by 100 million bushels and 50 million bushels, respectively. Lower demand in 2019/20 lifted ending stocks to nearly 2.25 billion bushels, up 145 million bushels from the June estimate. [...]

WASDE: 2019/20 corn, soybean stocks rise slightly

The June WASDE features few major changes to the overall corn outlook. Ethanol demand in 2019/20 was reduced by 50 million bushels to 4.900 billion bushels. This was partially offset by 2019/20 production falling by 46 million bushels, mainly due to unrecovered corn in [...]

Brazilian sugar production, exports recovering in new season

From April through mid-May, Brazil’s center south campaign saw reported crush of 103.0 MMT of cane, up an impressive 22 percent YOY and up nearly 16 percent from the five-year average. Sugar production reached 5.49 MMT, up 84 percent YOY and up 44 percent [...]

Corn futures slide as ethanol misery continues

The erosion in ethanol demand continues, with production during the week of Apr. 10 hitting a ten-year low, averaging just 570,000 barrels per day and down about 44 percent vs. last year. About half of U.S. ethanol plants have shut down, including Valero announcing [...]

WASDE: Drop in use, stocks rise for corn, soybeans

USDA lowered 2019/20 corn use for ethanol by 375 million bushels to 5.050 billion bushels in the April WASDE. This drop was partially offset by feed and residual demand rising to 5.675 billion bushels, up 150 million bushels from March. With use 205 million [...]

Dollar consolidates after correcting off multiyear highs

In the second half of March, the U.S. dollar index spiked to its highest levels since late 2002. The index corrected lower in a six-session slide, finding support near its 20-day moving average. Despite some contrarian views, the dollar clearly remains the world’s preferred [...]

Corn stocks reported below industry estimate

As of Mar. 1, 2020, U.S. corn stocks were just over 7.95 billion bushels, down roughly 8 percent YOY and below trade expectations. A stocks figure under the industry estimate may suggest that 2019/20 production was lower than reported. Soybean stocks were just over [...]

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