Weekly corn & soybean crop ratings unchanged

As of Sep. 26, U.S. corn was rated 59 percent good to excellent and 15 percent poor to very poor, unchanged from the week prior. Corn maturity was nearly three-fourths complete nationwide and was about 10 points above the five-year average. Harvest was 18 [...]

Problems at port slow juice imports

Stocks of non-orange juice concentrates at the end of August were just 276.4 million pounds, nearly unchanged from July and the lowest level for the month since 2015. In common with other imports coming into the U.S., Gulf access for apple juice (the largest [...]

Culling limits milk supply growth

Four months into this contraction phase for output, the U.S. dairy herd has fallen by nearly 30,000 head, with the bulk of the reductions seen for the largest 24 producing states. The falling herd left August milk output up a somewhat disappointing 1.1 percent [...]

Corn futures remain in consolidated trading pattern

Futures activity Dec-21 corn futures closed last week a bit higher at just under $5.27 per bushel. Futures are inverted for the second half of 2022, with the July contract less than a cent lower than that of May and September futures about $0.26 [...]

Sugar index leads gains in August rebound of Food Price Index

Adjusted for inflation, FAO’s Food Price Index (FPI) rebounded strongly in August after slight declines in June and July. These two down months, however, followed a full year of monthly gains. Source: FAO Among the subindexes, sugar saw the most significant gains in August. [...]

Dalian corn futures near one-year low, & weather updates

Ahead of China’s mid-autumn festival holiday, continuous nearby Dalian corn futures settled at an 11-month low of $9.3400 per bushel before rebounding to almost $9.3675 per bushel on Sep. 22. On the same day, continuous nearby CBOT corn futures settled at $5.2550, more than [...]

August soybean crush beat expectations

NOPA members crushed 158.8 million bushels of soybeans last month, higher than estimates ahead of today’s report by about 4.5 million bushels. NOPA's cumulative crush for the 2020/21 Sep-Aug soybean marketing year ended at 2.02 billion bushels, meaning total U.S. crush was likely around [...]

Rising container freight rates curdles U.S. milk exports

An increasingly common complaint of shippers lately has been availability and pricing for export containers. Many lanes, in particular those to the Far East, have risen dramatically by as much as 300 percent over the past three years, and finding sufficient empty containers is [...]

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