FAO’s Food Price Index (FPI) fell 2.1 percent in August to 116.7 (adjusted for inflation), down 13.3 percent YOY and its lowest level since February 2021. Among the component indexes, only the sugar index rose in August, up 1.3 percent from July. The cereal [...]
The last week of the 2022/23 marketing year included a net reduction in corn sales of 1.0 million bushels and shipments of just 20 million bushels, half of which were headed to Mexico. As of Aug. 31, about 44 million bushels remained in outstanding [...]
Sep-23 futures traded narrowly during the week of Sep. 4. The contract began the short week with a modest 6.2-cent gain on Tuesday, Sep. 5, to build on the turnaround that appeared on Friday, Sep. 1. On Sep. 6, nearby futures managed to close [...]
Average cash corn pricing around Decatur, IL in July was down 66 cents from July and down $1.22 from August 2022. During the reconciliation period, corn gluten meal averaged up 5.0 percent from July but down 16 percent year on year, while feed pricing averaged [...]
Corn outlook The 2023/24 U.S. corn outlook is for greater production at 15.1 billion bushels due to an increase in harvested area offsetting a reduction in yield. Corn supplies and ending stocks are also up compared to last month’s projections, while use remains unchanged. [...]
Soybean futures ended a modest two-week rally with the Nov-23 contract hitting $14.05 per bushel on Aug. 28, before trailing back lower to $13.6875 per bushel as of Aug. 31’s close. Futures were up 1.5 cents per bushel as of mid-session the morning of [...]
Corn futures were choppy on the week and relatively stable as the market weighed a very hot and dry forecast vs. estimates filtering out from the Pro Farmer crop tour. Dec-23 corn settled on Aug. 21 at $4.8250 per bushel and closed at $4.8800 [...]
July 2023 soybean crush was above analysts’ expectations: Soybean crush increased for the month of July with about 173.0 million bushels crushed in July 2023, due to seasonal maintenance and repairs at processing plants. This year has recorded the highest July soybean crush since [...]
