In April, FAO’s Food Price Index (FPI) fell slightly from March, possibly a positive sign after strong food price inflation in previous months. Adjusted for inflation, the FPI was 121.8, down about 0.8 percent from prices in March. The FPI was still up 28 [...]
In a new estimate, ISMA sees total 2021/22 sugar production at 35.0 MMT—some 1.5 MMT above our most recent estimate. The new forecast is based on improved cane tonnage and strong sugar recovery (i.e., sugar content) even though total planted area has not grown [...]
USDA made limited yet anticipated changes to the 2019/20 supply and demand forecasts for corn and soybeans. U.S. corn exports were lowered 50 million bushels to 1.725 billion bushels. Despite unfavorable margins of late, ethanol and by-products demand was raised by 50 million bushels [...]
We missed the WASDE, among so many other reports, during the government shutdown. Today’s U.S. and world crop S&D update confirmed much of the speculation about the 2018/19 corn and soybean crops. For corn, U.S. production was lowered 14 percent from the December forecast, [...]
The Chinese government recently restated its plan to formulate all automotive gasoline with 10 percent ethanol by 2020. China will promote the use of ethanol in 13 regions this year, including Beijing. Under this plan, the government plans to reduce its massive corn stockpiles, [...]
U.S. cattle on feed totaled 11.3 million head as of July 1, reflecting the month-over-month decline expected for this time of year but up 4 percent year over year. The U.S. herd was counted at 41.9 million head as of the beginning of the [...]
After many months of a bearish outlook for corn, the market seems more supported. Though fundamentals are still weighing on futures; there are many reasons why obtaining extended futures coverage might be a wise decision. Last week's WASDE report was somewhat bullish, with USDA [...]
With the rise in ethanol production, dry mills have increasingly invested in corn oil production to capture the value of this manufacturing coproduct. Cumulative production of inedible distillers-grade corn oil (DCO) increased 15 percent year over year in both 2016 and 2017. DCO traditionally [...]
