The past week brought two USDA dairy reports, both setting the stage for a staggering volume of milk and inventories of dairy products in months ahead. January’s USDA Milk Production report showed a massive increase in the statistical herd, with the total U.S. herd gaining [...]
ECA reported Q4 2020 European grind at 344,151 MT, down half a percent from Q3 and down just 3.1 percent YOY from Q4 2019 grind of 355,201 MT. This follows last week’s announcements of Q4 2020 grind for Asia and North America, down 4.2 percent [...]
As of last week, soybean harvest in Brazil’s Mato Grosso was just over 2 percent complete, down about 12 points YOY and almost 10 points below the five-year average. Rain is expected in Mato Grosso in the near term but should not hinder decent [...]
The U.S. exported a robust 2.38 MMT of soybeans during the week ending Jan. 14, including 1.35 MMT destined for China. Export pace did not fall off much during the holidays, and last week’s shipments were notably strong for this time of year. Net [...]
Last week brought a market correction to corn futures, culminating with Friday’s significant sell down. Mar-21 corn futures closed the week just above the psychological level of $5 per bushel. Fundamentally, arguably the only bearish news last week was better weather in South America, [...]
In Fonterra Global Dairy Trade online auction events of the last two months, prices for dairy products have surged just over 16 percent. Last week’s event was no exception, with prices advancing up an impressive 4.8 percent overall. Category leaders included anhydrous milkfat (up [...]
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 [...]
A few weeks into 2021, we have seen the first grind results of Q4 2020. This figure corresponds to first quarter of the 2021 October-September crop year. Matching expectations, Malaysian grind fell a nominal 2.5 percent in Q4 2020 to 87,163 MT down slightly [...]
