Soybean oil export sales pick up

The strong end to the 2019/20 soybean oil exports marketing year may have left the market a little tuckered out—or, perhaps, sufficiently supplied—and we’ve seen less shipping activity so far in 2020/21 compared to the last couple seasons. With this year barely started, however, [...]

More sales, more bullishness for soy complex

A week that started with a post-WASDE sell-down found support in weather concerns and renewed Chinese buying of soybeans. The soy complex seems set to remain the overall market leader for grain/oilseed futures in months ahead due to a tight U.S. balance sheet and [...]

Corn supply reductions partially offset by lower demand

Friday’s WASDE report noted some expected changes to the domestic corn balance sheet, including supply reductions that were partially offset by adjustments to demand projections. Planted and harvested acreage for 2020/21 were both reduced by 1 million acres, with the latter now pegged at [...]

Industry expects smaller corn, soybean crops in WASDE

The average industry estimate for corn and soybean production is 14.823 billion bushels and 4.288 billion bushels, respectively. At these levels, the corn crop would still be the second largest on record, while soybean production would be the fourth largest on record. The trade [...]

Hog population stable YOY heading into fall

USDA’s quarterly Hogs & Pigs report put the Sep. 1 population at 79.1 million head, up less than 1 percent from Sep. 1, 2019 and down almost 1 percent from the Jun. 1, 2020 number. Usually, we see a modest increase in the hog [...]

Expanding acreage in Brazil to boost 2020/21 production

USDA forecasts planted corn acreage in Brazil at nearly 48.19 million acres in 2020/21, up 0.8 percent year on year. A private forecast from Safras & Mercado pegs planted area at 48.56 million acres (19.66 million hectares) in 2020/21, which is 370,000 acres (149,734 [...]

WASDE lowers corn yield with limited impact on STU

Despite the estimated impact of the derecho event last month, the 2020/21 U.S. corn crop still looks to be one of the largest on record. With a minor boost to beginning stocks, total supply is projected to increase 8 percent over last year and [...]

24.2 MMT of 2020/21 soybean exports already sold

As of Aug. 27, the U.S. had pre-sold 24.2 MMT of new-crop soybeans, beating the previous sales record set in 2013/14 of 23.9 MMT of 2014/15 soybeans. USDA is currently forecasting 2020/21 U.S. soybean exports at 57.8 MMT (2.125 billion bushels), a return to [...]

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