March cattle on feed at 12.0 million head

As of Mar. 1, U.S. cattle on feed totaled 12.0 million head, down 1 percent on the month but up about 2 percent YOY. Headcount was a record high for the month of March. This may give some indication of potential feed demand growth [...]

Corn follows soybeans higher

Corn futures were trading higher last Friday but are still in a consolidation pattern. The market will await a breakout as an indication as to whether the bullish trend can continue. For such direction, tomorrow’s WASDE report will be scrutinized as well as weather [...]

Meteoric rise in international dairy prices

Breathtaking gains in dairy prices in Fonterra’s latest global auction had a feel of a short squeeze with aggressive bids and few offers. In particular, a genuine lack of free containers for maritime transit has hurt spot availability. Chinese buyers returned to the market [...]

Global dairy strength propping up domestic market

In Fonterra Global Dairy Trade online auction events of the last two months, prices for dairy products have surged just over 16 percent. Last week’s event was no exception, with prices advancing up an impressive 4.8 percent overall. Category leaders included anhydrous milkfat (up [...]

Soybean exports totaled 37.3 MMT ahead of the holidays

As of Dec. 24, the U.S. had exported 79 percent more soybeans this season than last year to date. Most-recent four-week exports totaled 10.2 MMT, down slightly from the four-week total for November. Of the 2.4 MMT exported during the week of Dec. 24, [...]

Apple juice imports/stocks rose in October

The U.S. imported close to 22.0 million single-strength-equivalent gallons of apple juice in October, up notably from very low volumes imported during the first two months of the 2020/21 marketing year but down 4 percent from October 2019. A little over a third of [...]

WASDE: Limited changes for corn & soybeans

For the second consecutive December, USDA made no changes to the domestic corn balance sheet. Despite the industry expecting slightly lower 2020/21 ending stocks, the forecast remained at a seven-year low of 1.702 billion bushels. Globally, USDA lowered its 2020/21 world corn production forecast [...]

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