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 [...]

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 [...]

Record California almond production in the works

For the second year in a row, California almond growers are expected to set a production record. Currently, there are nearly 1.2 million bearing almond acres in California, with yield expected to be 2,140 pounds per acre. Together, these factors lead USDA to estimate [...]

A closer look at sugar deliveries, demand growth USDA forecasts for demand growth

USDA estimates sugar deliveries for food use shrank by half a percent in 2017/18 and as of last WASDE forecasts a 0.6 percent increase for that volume in 2018/19 at 12.125 million STRV. This volume is unchanged from forecasts in the previous months, though [...]

Four-week average daily ethanol production down 4 percent YOY

Average ethanol production last week was 1.03 million barrels per day, up 3 percent from the previous week but another week of year-over-year decline. Most-recent four-week average daily production was just over 1.0 million bpd. Earlier this month, USDA trimmed projected 2018/19 corn use [...]