After a solid rally and underreporting of herd statistics in the first half of the year, corrections in USDA cow numbers, solid inventories of dried powder, and waning demand are finally bringing welcome relief to overheated dairy markets. We previously addressed the systemic underreporting [...]
Forecast U.S. production reported in last week’s WASDE report matched trade expectations with a slight increase for spring wheat production, but planted and harvested acres came off another 100,000 acres. The net increase in U.S. wheat production was minor, up just 2 million bushels. [...]
Use by blenders and refiners remained on the low side of average (excluding 2020’s depressed demand) during the week ending Aug. 5. Lower demand offset a slight slowdown in production, which was still around average for early August, keeping ethanol stocks above 23 million [...]
FAO’s Food Price Index (FPI) fell for a fourth straight month in July, down by nearly 9 percent from June, adjusted for inflation, the steepest monthly drop, in percentage terms, since October 2008. The FPI is still up 11 percent YOY, supported especially by [...]
Around 90 percent of the U.S. corn crop had made it through pollination as of Aug. 7, although Iowa was still behind average at 83 percent vs. 92 percent for the five-year. July’s hot, dry weather hurt crop condition in some regions, with 16 [...]
A few seasons into the implementation of a Living Income Differential (LID), Ghana and Ivory Coast have seen mixed results for premiums collected on bean sales. Despite some success for the LID in raising farmer income and improving livelihoods, country officials have at times [...]
Futures activity Sep-22 corn futures ended last week close to where they started, closing at $6.1025 per bushel. Dec-22 futures were up a mere quarter of a cent from the start of last week, closing at an even $6.10 per bushel. S&D and fundamental [...]
U.S. weekly corn export sales were a five-week high in the week ending Jul. 21. The season’s total volume is still lagging YOY. Top buyers for the week included Mexico (70,000 MT), Japan (41,700), and Colombia (15,500MT). Weekly corn exports were a nine-month low, [...]
