Sharp decline in tart cherry crop

There is considerable concern about the size of the tart cherry crop this year. Frost conditions during spring may have had a big impact on the development of this year’s crop. USDA is forecasting 2020 tart cherry production at 197 million raw pounds, down [...]

Corn market awaits acreage, stocks reports

Corn futures came under pressure last week as good production prospects firmed market expectations of bearish conditions for the foreseeable future. The Dec-20 contract closed the week down 20 cents per bushel. The Jun. 30 Acreage and Grain Stocks reports are on the minds [...]

Hog population up 5 percent from a year ago

As of Jun. 1, the U.S. hog and pig inventory numbered 79.6 million head, up 5 percent from June 2019 and up 3 percent from March 2020, stronger Q1-to-Q2 growth than usual. Q2 numbers may reflect pre-COVID-19 production assumptions, however, and year-over-year growth in [...]

Sweetener consumers (or lack thereof) broken into segments

Findings from a recent ADM study suggest that the processed food industry is focusing less on engineering products to meet labels claims and more on the ingredients list of existing products. ADM’s Amy Williams highlighted that packaging claims such as “reduced sugar” or “diet” [...]

June Milk Production Report shows decline in production

June may be National Dairy Month, but last week’s USDA Milk Production Report showed drops in both U.S. dairy herd and total milk output compared to the prior month. Milk production in the 24 major states was down 1.0 percent, showing the first yield [...]

Sugar deliveries declined during spring

With delivery data for two months under COVID-19, March and April, USDA lowered 2019/20 sugar deliveries for food use by 75,000 STRV in the June WASDE. After huge April imports because of the quota increases, USDA is placing YTD deliveries for food use by [...]

Soybean market creeping higher

Soybean exports remain on pace, with healthy Chinese purchases totaling 320,038 MT during the week ending Jun. 11, about 60 percent of the purchases made during the week. As of now, the current USDA projection of 1.650 billion bushels looks attainable with the current [...]

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