How much sugar will Mexico export to the U.S.?

In the April WASDE, USDA increased Mexico’s sugar production by 35,000 metric tons, to 5.235 MMT, and increased U.S. imports from Mexico by 34,000 short tons raw value, to 1.199 million STRV. USDA’s current estimate is realistic if Mexico’s sugarcane harvest stops in late May, [...]

WASDE: Higher corn & soybean yields

The January WASDE report was slightly surprising in terms of corn with many expecting more bullish numbers. Instead, USDA raised 2019/20 corn yield to 168.0 bushels per acre (bpa), up 1 bpa from the December estimate. The industry was expecting yield to be 2 [...]

Lowest September crude corn oil exports since 2007

September crude corn oil production extended the modest YOY slump that began in July. Jul-Sep production totaled 529.6 million lbs, with 543.7 million lbs of crude oil used for refining, down 7 percent from Q3 2018. Crude corn oil used in refining was 171.4 [...]

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 [...]

Demand for nutritious beverages on the rise in China

In a recent report, USDA found urban Chinese consumers are eating and drinking healthier than in previous years, emphasizing “eating well” over “eating full.” This mindset, along with a need for convenient nutrition, has led to growth in China’s beverage industry. In fact, profit [...]

Rise in dairy product inventories

While trade tensions between U.S. and China are not yet settled and NAFTA’s replacement, USMCA, has not been ratified, exports of dairy products that would normally be shipping to these two key destinations have been lagging. Following U.S. steel and aluminum tariffs, China and [...]

U.S. HFCS export fell 2 percent in 2018

USITC data for December show the U.S. exported 73,330 MT (dry weight) of HFCS during the month: 3,375 MT of HFCS-42 and 69,955 MT of HFCS-55, which raised cumulative 2018 HFCS exports to 1.046 MMT, slightly lower than annual exports in 2016 and 2017. [...]

WASDE: USDA lowers corn use, raises soybean crush

Today’s WASDE report confirmed the market’s expectation for lower corn utilization for ethanol, which USDA lowered by 25 million bushels, to 5.550 billion bushels. USDA also lowered U.S. corn exports by 75 million bushels, a move that was less expected but not out of [...]