Comparing the 1995/96 & the 2019/20 corn crops

Planting of the 1995/96 crop was the slowest in decades—until the 2019/20 new crop saw even slower planting. The 1995/96 crop was 77 percent planted by Jun. 2, while the 2019/20 crop was only 67 percent planted, a 10-point difference. Aside from planting progress [...]

Can we halve food waste by 2030?

Last year, USDA, FDA, and EPA set a goal to cut food waste loss (FWL) in half by 2030. Yet a recent report by the U.S. Government Accountability Office found limited progress by these three agencies. National Resource Defense Council 2017 data showed that [...]

Wheat futures market inverts post-WASDE release

On Thursday, Jul. 11, Jul-19 wheat futures rose 4.8 percent to a six-week high of $5.36 following the June WASDE release. This price is higher than both the Sep-19 and Dec-19 futures contracts, at $5.21 and $5.32, respectively. Jul-19 contract prices rose in reaction [...]

USDA estimates corn acreage up, soybean down

The USDA Acreage report surprisingly estimates planted corn acreage at 91.7 million acres, a few million acres above pre-report estimates and slightly higher than the June WASDE forecast. On the other hand, soybean planted acreage is estimated at an even 80 million acres, a [...]

U.S. may expand 2018/19 Mexican sugar import quota

Official estimates peg October-May imports of Mexican sugar at 596,739 metric tons raw value (MTRV), down 17.5 percent from the 723,704 MTRV imported during the same months of 2017/18. Year-to-date imports are down 19.6 percent from the average of the three market years that [...]

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 [...]