National herd climbs while dairy stocks in cold storage fall

The shortened Thanksgiving holiday week brought mostly good news for buyers of dairy products. USDA’s November milk production report showed total heifers in the U.S. rising to a 12-month high of 9418 million head. As we had forecast, herd levels are now up from [...]

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 [...]

Natural gas inventories pull even with benchmarks

For the first time this year, natural gas storage underground reached 2021 levels and seems set to catch up with the five-year average. Atypically warm weather across much of the eastern U.S. during October and the first half of November allowed a greater build [...]

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 [...]

FAO Food Price Index down for seventh straight month

Adjusted for inflation, FAO’s October Food Price Index (FPI) fell by 0.1 percent from August, the sixth straight monthly decline. Year on year, the index is up about 0.3 percent—a minor difference compared to the double-digit YOY growth seen from early 2021 through July [...]

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 [...]

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