February cattle on feed at multiyear high

As of Feb. 1, U.S. cattle on feed totaled just over 12.1 million head, the second highest February total since reporting began in 1996. Inventory was up 1 percent from January and up about 1 percent YOY, slightly above industry expectations. The high number [...]

WASDE: U.S. corn ending stocks plummet

USDA lowered 2020/21 U.S. corn ending stocks by 465 million bushels in the November WASDE on lower new-crop production and higher exports. Corn yield was lowered to 175.8 bushels per acre (bpa), down 2.6 bpa from the October estimate and notably below the average [...]

Lower corn feed demand revealed in July WASDE

In the July WASDE, U.S. corn feed demand and ethanol demand in 2019/20 were lowered by 100 million bushels and 50 million bushels, respectively. Lower demand in 2019/20 lifted ending stocks to nearly 2.25 billion bushels, up 145 million bushels from the June estimate. [...]