Friday’s world crop supply and demand update brought an expected increase to 2020/21 U.S. soybean exports, which USDA offset by tinkering with other use numbers, leaving ending stocks unchanged from the February and March estimates. USDA attributed the 30 million bushel increase in exports, [...]
In the April WASDE, USDA lowered its 2020/21 U.S. corn ending stocks forecast by 150 million bushels to 1.352 billion bushels. This change to carryout is due to both exports and domestic use each rising 75 million bushels. For 2020/21, exports are now forecast [...]
A lackluster WASDE and higher production in Brazil helped to pressure soybean futures last week. May-21 soybeans lost about $0.20 per bushel over the course of the week as Brazil revised its production estimate higher: Its crop could be large enough to cover losses [...]
USDA made no changes to the 2020/21 U.S. corn balance sheet in the March WASDE. Ending stocks remain forecast at a multiyear low of 1.502 billion bushels, exports at record 2.600 billion bushels, and domestic use at 12.025 billion bushels, a five-year low. Globally, 2020/21 corn ending stocks rose by about 1.1 [...]
In the February WASDE, USDA raised its 2020/21 corn exports forecast by 50 million bushels to 2.600 billion bushels. This dropped USDA’s 2020/21 U.S. corn ending stock forecast by 50 million bushels to 1.502 billion bushels, notably above the average industry estimates of 1.384 [...]
Mar-21 soybeans ended at $13.70 per bushel last week after recovering from the previous week’s speculative selloff. News of additional soybean purchases trumped reports of favorable weather in South America as demand is moving to the forefront of market-driving factors. Soybean harvest should be [...]
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 [...]
In the week after the November WASDE, we saw corn inch up and close the week up 13 cents, rising from $4.10 to $4.23 per bushel on the nearby contract. The modest rally was fueled by another strong week for demand, South American weather, [...]
