Almond shipments down month to month

Net U.S. almond shipments in December were about 256.9 million pounds, shelled and in-shell, down over 2 percent from November but up nearly 25 percent from December 2019. Exports of 196.1 million pounds were up 32 percent YOY and accounted for just over three-quarters [...]

Soybeans correct after soaring higher on bullish WASDE

Last week was interesting for the soy complex as prices rallied before correcting a bit on Friday. A bullish WASDE report sent soy complex futures to new highs with the Mar-21 contract surpassing $14 per bushel for the first time since 2014. Likewise, soybean [...]

U.S. orange output lower

This month, USDA lowered its 2020/21 early-midseason orange production forecast to 20.0 million 90-lb boxes for Florida, down 2.0 million boxes from the December estimate and down 3.0 million boxes from the November estimate. Florida’s Valencia orange production estimate remains at 34.0 million boxes, [...]

WASDE: Corn & soybean ending stocks forecasts cut notably

In the January WASDE, USDA dropped its total 2020/21 U.S. corn supply estimate by 400 million bushels, with new crop production now estimated at 14.182 billion bushels, down 325 million bushels from the December estimate. USDA’s cuts to domestic use and exports in 2020/21 [...]

Soybean exports totaled 37.3 MMT ahead of the holidays

As of Dec. 24, the U.S. had exported 79 percent more soybeans this season than last year to date. Most-recent four-week exports totaled 10.2 MMT, down slightly from the four-week total for November. Of the 2.4 MMT exported during the week of Dec. 24, [...]

Corn rises to new highs

Corn futures closed higher each day last week off support from soybeans, the weakening dollar, and extended weather forecasts showing drier conditions in South America. The soybean rally picked up last week, and the market is trading above $12 per bushel for the first [...]

Brazilian corn crop estimates notably different

Last week, both USDA and Brazil’s CONAB released their most recent agricultural supply and demand estimates. USDA left its 2020/21 Brazilian corn crop estimated at 110.0 MMT, 1.1 MMT above the industry estimate. CONAB estimates significantly lower 2020/21 Brazilian corn output at just 102.5 [...]

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