Cost of Thanksgiving meal rises again in 2022

The cost of ingredients for a ten-person Thanksgiving meal hit a new record this year, as estimated through the American Farm Bureau Federation’s survey. The 2021 cost was a record $53.31 ($5.33 per person), and the estimated 2022 cost surpassed at $64.05 ($6.41 per [...]

Mexico increases U.S. corn purchases

Mexico placed orders for a net 919,837 MT of corn during the week ending Nov. 10, the highest weekly net for this season to date. Outstanding sales to Mexico ended the week at 4.8 MMT, down 17 percent year over year; during the previous [...]

Soybean exports strong, Ukraine export deal limits price upside

Futures activity Jan-23 soybeans closed last Friday at $14.28 per bushel, down 12 cents from last Monday. Dec-22 soybean oil ended the week down more than 3 cents at $0.7274 per pound. S&D and fundamental factors NOPA crush was 184.5 million bushels in October, [...]

Soybean harvest wraps up a few days ahead of average

The soybean crop harvest was nearly complete in all the top-producing states as of Nov. 13 and 96 percent complete on average across the U.S. vs. the five-year average of 91 percent. This report was the last one for 2022/23 soybeans. Corn harvest is [...]

Soybean export volumes to China slow again

Net soybean export sales were a bit below average during the week ending Nov. 3, continuing the slower pace of recent weeks. There was a rise for week-over-week exports during the period. Soybean export volumes to China slowed somewhat during the week to 1.9 [...]

Corn market considerations

Last week’s WASDE was reasonably uneventful, excluding the further reduction in anticipated global ending stocks in 2022/23. U.S. ending stocks increased just 10 million bushels from the October projection. One factor being watched closely is that of inflation and/or additional interest rate hikes. The [...]

USDA shows caution in November U.S. grain adjustments

Today’s WASDE report delivered a few modest changes to the U.S. balance sheets for wheat, corn, and soybeans, leaving ending stocks a bit higher from the October estimate for corn and soybeans and slightly lower for wheat. USDA tweaked 2022/23 wheat use for food [...]

Soybean oil pushes higher with crude oil

Futures activity Nov-22 soybean futures closed higher Friday, up $0.25 at $14.52 per bushel. Dec-22 soybean meal rallied on Friday, Oct. 28 but was still down for the week, closing at $420.40 per ST. The likewise soybean oil contract ended last week up nearly [...]

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