Florida Valencias lowered to 41.0 million boxes

With Florida’s 2018/19 orange harvest nearly complete, USDA lowered Valencia production by 1.0 million 90-lb boxes from the May estimate. All other orange production numbers—Florida early/mids, California, and Texas—were left unchanged. Florida’s orange production has closed the season down about 10 percent from USDA’s [...]

Lower 2018/19 soybean exports raise ending stocks

Today’s S&D update was quieter for soybeans than corn, with the only change being a 75 million bushel reduction in 2018/19 ending stocks. This one change pushed estimated 2018/19 ending stocks past 1.0 billion bushels and carried projected 2019/20 ending stocks near a similar [...]

Dairy prices show significant sign of weakness in 2019

Modest bearish moves in dairy auction prices two weeks ago (May 21) gave way to more substantial downward movement in prices this past week. Fonterra’s Global Dairy Trade platform registered a 3.4 percent decrease in its dairy product price index this past week on [...]

Strong Ivorian arrivals continue for 2018/19 midcrop

Reports suggest that bean arrivals at Ivorian ports remain strong, averaging somewhere between 30,000 MT and 35,000 MT of beans per week despite mixed weather seen earlier in some growing regions. Based on these reports, total arrivals from October through May are variously estimated [...]

U.S. net agricultural export totals adjusted downward

Last Thursday, May 30, USDA released its quarterly Outlook for U.S. Agricultural Trade, forecasting import and export value totals for the current year. USDA decreased its initial export value forecast by $4.5 billion, from $141.5 billion down to $137 billion. Lower forecasted export shipments [...]