WASDE: New-crop corn & soybean forecasts are here

In the May WASDE, 2021/22 corn production is forecast at 14.990 billion bushels on 91.1 million harvested acres and yield of 179.5 bushels per acre (bpa). Yield is in line with expectations, but the industry expected new-crop area and production to be higher. New-crop [...]

WASDE: Corn & soybean harvested area notably lower

In the October WASDE, 2020/21 corn harvested area was pegged at 82.5 million acres, down 1 million acres from the September WASDE estimate. This change and slightly lower yield dropped 2020/21 corn production to 14.722 billion bushels, which is 101 million bushels below the [...]

Lowest September crude corn oil exports since 2007

September crude corn oil production extended the modest YOY slump that began in July. Jul-Sep production totaled 529.6 million lbs, with 543.7 million lbs of crude oil used for refining, down 7 percent from Q3 2018. Crude corn oil used in refining was 171.4 [...]

768 million pounds of soybean oil went to biodiesel in December

In December, U.S. biodiesel producers surpassed August’s previous record soybean oil utilization by more than 60 million pounds and delivered a year-over-year increase of 29 percent. Biodiesel production totaled 168 million gallons, up 13.5 percent YOY and slightly higher than the average YOY increase [...]

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