The USDA increased the 2020 pork production estimate again this month. Hog farms were more productive in the last half of 2019 and early 2020 than had been expected from the December Hogs and Pigs report. The March 2020 survey found hog numbers larger than anticipated. USDA cut the 2020 Read more…
The USDA cut the estimate for corn used to make fuel in 2019/2020 by just under 400 million bushels this month. The ethanol industry has been hit hard this spring because of falling crude oil prices and a reduction in the number of miles driven due to quarantine restrictions. Read more…
The USDA dropped both the Argentine and Brazilian soybean estimates this month. Dry weather late in the growing season resulted in yield expectations still at trend level but falling short of the above trend outlook published a month ago. In the period from the mid 1980’s into 2019 the correlation Read more…
The USDA Rated 62% of the U.S. wheat crop in good or excellent condition on April 5 which is an improvement over the 52% rated at good/excellent prior to dormancy. In the period 1988 through 2019 USDA rated an average 52% of the winter wheat crop in good or excellent Read more…
The March planting intentions survey reported 30. 8 million acres seeded to winter wheat was about the same as found in the winter 2020 survey. Farmers intend to plant 13.9 million acres to spring wheat in 2020 which is down marginally from a year ago. Assuming our trend yield Read more…