Recovery in South Dakota’s honey production

U.S. honey production was around 156.9 million pounds in 2019, up 2 percent from 2018 but down 2 percent from the previous five-year average of 160 million pounds. Honey stocks as of Dec. 15 were 41.0 million pounds, up 40 percent year over year. [...]

December milk output shows unremarkable lead-up to 2020

The January milk production report this week showed a modest rise of 0.9 percent in 24-state milk production in December 2019 vs. a year prior. Production per cow (yield) was nearly unchanged YOY, and the total number of milk cows was unchanged from both [...]

Benchmark OJ consolidates near 95.00

After breaking below retracement support above 98.00, Mar-20 OJ is finding additional short-term support around 94.95. The contract closed Thursday down by nearly 9 percent from its recent high a month prior, pressured by weather and crop updates for the U.S. and Brazil and [...]

Rise in soybean export sales

Export sales and shipments strengthened during the first full, non-holiday week of 2020. For the week ending Jan. 9, net soybean export sales were 711,462 MT (26.14 million bushels), reflecting 377,300 MT of reductions from unknown destinations. Weekly net sales were about double the [...]

Crude production up, ethanol production down for 2020

On Jan. 6, after trending upwards since early October 2019, Feb-20 WTI crude futures reached a nine-month-high. The contract rose almost 3 percent after tensions were heightened between Iran and the U.S. following the U.S. killing of Iranian Major General Qasem Soleimani. Since Jan. [...]

Almond & walnut exports show strength YOY

According to the Position Report for November, domestic shipments of shelled and in-shell almonds were 60.7 million pounds, down 5 percent from last November. Export shipments, at 175.19 million pounds in November, rose 1 percent YOY. Net total shipments were 235.89 million pounds, down [...]

U.S. may impose greater tariffs on EU goods

The Trump administration may add or increase tariffs on EU products, including agricultural products, to combat subsidies from the EU to Airbus. According to CNBC, “The U.S. has long argued that subsidies to Airbus hurt American aircraft giant Boeing and that the EU’s efforts [...]