WASDE challenges expectations for domestic sugar & corn demand

Intriguing WASDE sugar forecasts this month: A look at the bottom line shows an increase of 118,000 short tons raw value (STRV) in 2019/20 ending stocks, perhaps prompting a sense of relief as supply and markets seem to be improving. But that does not [...]

Lower corn & soybean figures expected in October WASDE

The latest USDA WASDE will be released Oct. 10 and could give a good indication of the new-crop corn and soybean late harvest results. For corn, the average of analyst expectations puts yield at 166.7 bushels per acre, down 0.5 bushels from the average [...]

April soybean crush down slightly YOY

NOPA members crushed almost 160.0 million bushels of soybeans last month, down about 1 percent from April 2018. Some in the industry expected crush to surpass 161.6 million bushels and break last year’s record for the month, and while that didn’t happen, this season’s [...]

WASDE: Bearish corn & soybeans, sugar more steady

In the May 10 WASDE report, USDA’s 2019/20 forecasts left corn and soybeans in bearish territory, while sugar showed stability. U.S. corn stocks-to-use (STU) ratio was projected at nearly 17 percent, with ending stocks for 2019/20 expected to rise 16 percent compared to 2018/19. [...]

December soybean crush up 3 percent from last year

NOPA members reported crushing over 171.7 million bushels of soybeans last month, up 3 percent from November and from December 2017. Crush was a bit higher than the industry anticipated, which was around 170 million bushels, and confirms robust domestic demand continues for soybean [...]

Rise in daily ethanol production despite low profit margins

Daily ethanol production averaged 1.06 million barrels during the first half of November, up from 1.02 million barrels per day during the first half of October and nearly the same as a year ago. Ethanol manufacturers seem to be maintaining production volumes despite eroding [...]

Not enough demand for a large soybean crop in 2018/19

USDA is currently projecting record soybean ending stocks of 885 million bushels. However, this number could be underestimated without China’s demand. The current projection depends on 2018/19 exports decreasing just 69 million bushels or 1.88 million metric tons (MMT) from the previous season. However, [...]