WASDE brings another reduction in global wheat stocks

The April WASDE report released last week was pretty much as expected across many commodities, but global wheat ending stocks did surprise with another sizeable drop. Stocks fell 5.67 MMT from 301.19 MMT to 295.52 MMT. The trade expected stocks to hold near 301 [...]

2020/21 soybean stocks still pegged at 120 million bushels

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, [...]

WASDE: Corn carryout drops, soybean carryout steady

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 [...]

Corn futures retreat from spike after plantings report

The 2021 Prospective Plantings and Grain Stocks reports delivered plenty of surprises last week. Expectations were for planned corn acres to come in around 93.1 million acres. The result? The market was left 2 million acres short at 91.1 million acres, and prices rose [...]

Sugar beet planting intentions

As anticipated by the trade, sugar beet plantings are expected to rise almost 2 percent or 6,800 acres in 2021. In the last three seasons, poor weather depressed yields in the Red River Valley (RRV), which would typically account for about 50 percent of [...]

March cattle on feed at 12.0 million head

As of Mar. 1, U.S. cattle on feed totaled 12.0 million head, down 1 percent on the month but up about 2 percent YOY. Headcount was a record high for the month of March. This may give some indication of potential feed demand growth [...]

Soybean export sales, shipments slow further

Export sales and shipments of 2020/21 soybeans were both on the low side the week of Mar. 18. Sales were offset by 152,500 MT of reductions for unknown destinations, a slightly higher level of cancellations than we saw over the previous couple weeks. Exports [...]

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