WASDE: Corn & soybean ending stocks forecasts cut notably

In the January WASDE, USDA dropped its total 2020/21 U.S. corn supply estimate by 400 million bushels, with new crop production now estimated at 14.182 billion bushels, down 325 million bushels from the December estimate. USDA’s cuts to domestic use and exports in 2020/21 [...]

U.S. corn exports weaken but outlook remains positive

Corn export sales dropped sharply in October: Net sales for the weeks of Oct. 18 and Oct. 25 were each less than 400,000 MT at 13.8 and 15.5 million bushels, respectively. The volume that sold continues to move briskly, however. Cumulative shipments as of [...]

Not enough demand for a large soybean crop in 2018/19

USDA is currently projecting record soybean ending stocks of 885 million bushels. However, this number could be underestimated without China’s demand. The current projection depends on 2018/19 exports decreasing just 69 million bushels or 1.88 million metric tons (MMT) from the previous season. However, [...]

Soybeans galore for 2018/19

USDA increased soybean yield once again to a record 53.1 bushels per acre (bpa). This increase, together with larger beginning stocks, left 2018/19 ending stocks projected at 885 million bushels, the largest ending stocks on record. The soybean fundamental picture remains bearish as long [...]

Tariff aid focus on U.S. soybean farmers disappoints corn farmers

USDA announced more details on financial aid to farmers hurt by trades disputes. Direct payments to growers will total $4.7 billion, with $3.7 billion for soybean farmers, who will receive $1.65 per bushel on 50 percent of their projected production. For comparison, payments for [...]

Tariffs raise questions over pork exports & feed demand

If the retaliatory tariffs set on U.S. pork products by some top destinations continue, corn export demand will feel a hit this year, pressuring prices. There is even speculation that pork prices could fall below their production cost—although some relief could come from lower [...]

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