2020/21 soybean stocks still pegged at 120 million bushels

Friday’s world crop supply and demand update brought an expected increase to 2020/21 U.S. soybean exports, which USDA offset by tinkering with other use numbers, leaving ending stocks unchanged from the February and March estimates. USDA attributed the 30 million bushel increase in exports, [...]

World food prices up for tenth straight month

Adjusted for inflation, FAO’s Food Price Index rose over 2 percent from February and was up 25 percent YOY. This was the tenth straight month of gains for the price index. For 2021 through March, food prices are up 17 percent year on year [...]

Strong February gains for the Food Price Index

FAO reported the February Food Price Index (inflation adjusted) up almost 15 percent from January. The index saw gains for nine straight months and is now at its highest point since 2011. Every single subindex gained in February, with the strongest gains seen for [...]

January soybean oil edible use rose 5% YOY

USDA reported that in January, 1.15 billion pounds of soybean oil were removed from stocks for use in edible applications. This volume was up 3 percent from December and up 5 percent from January 2020 as demand for soybean oil has proven notably resilient [...]

U.S. 2020 edible oil imports were close to 2019’s record

The U.S. imported around 4.76 MMT of edible oils last year, down just 1% from 2019 imports, which were near 4.83 MMT. USDA expects imports to continue to drift lower this year, with the edible oils complex seeing about a 2 percent decline in [...]

FAO: World food prices up nearly 8.8% YOY in January

FAO reported its January food price index up 2.7 percent from December and up 8.8 percent YOY (adjusted for inflation). Month on month, its component subindexes were either up (cereals, oils, sugar) or nearly flat (meat, dairy). Year on year, nearly all subindexes made [...]

December refined corn oil stocks near three-year high

In the February Fats and Oils report, USDA reported that production of refined corn oil totaled 182.2 million lbs in December, up 33.6 million pounds or 23 percent from November but down 7 percent from a year ago. U.S. stocks of refined corn oil [...]

Soybeans correct after soaring higher on bullish WASDE

Last week was interesting for the soy complex as prices rallied before correcting a bit on Friday. A bullish WASDE report sent soy complex futures to new highs with the Mar-21 contract surpassing $14 per bushel for the first time since 2014. Likewise, soybean [...]

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