USDA rated 64 % of the corn crop in good or excellent condition on June 27. 2021 compared to the preceding 30-year average of 65%. A late June model forecasts a national corn yield of 176 bushels per harvested acre compared to 172 bushels in 2020. The study has a Read more…
USDA reported the June 1 US hog inventory at 75.7 million head compared to 77.4 million head a year ago. The March/May pig crop was down 3% as the number of sows farrowing declined slightly less than 3% and the number of pigs saved per litter declined marginally. It appears Read more…
The USDA rated just 27% of the US spring wheat crop in good or excellent condition as of June 20 which compares to the preceding 25-year avere of 69%. Minneapolis wheat (Spring) has gained sharply on KC wheat reflecting poor spring wheat production prospects versus winter wheat (KC).
The USDA rated 60% of the US soybean crop in good or excellent condition as of June 20 which is slightly behind the 62% average for the same week for the years from 1986 through 2020. In the June WAOB report USDA forecast the US average soybean yield at 50.8 Read more…
In the June 2021 WAOB report USDA forecast Midwest Steers would average $118 in the July 2021 through December 2021 period. The accompanying scatter study plots Midwest finished steers as a function of per capita domestic beef supply. We have plotted the current average futures price for finished cattle or Read more…
USDA rated 68% of the US corn crop in good or excellent condition on June 13 which is right on the previous 25 year average. Midwest topsoil moisture was rated 65% adequate or surplus which is down from the late spring ratings of recent years. USDA’s current 2021 corn trend Read more…
The rising value of corn ethanol has sustained the corn crush industry at a time of a tight old crop corn supply usage balance. The value of DDGS ( a by-product of the corn crush process used as animal feed) has also moved higher since harvest, but at a much Read more…
The contributing value of soybean meal and soybean oil on a per bushel basis were roughly equal in central Illinois on June 3 which is a very unusual situation. The crush margin basis Decatur Illinois exceeded $3.00 per bushel in the week ending June 3 which is the best in Read more…
USDA rated just 43% of the US spring wheat crop in good to excellent condition on May 30 which compares to the preceding 25-year average for the date of 72% good or excellent. Eighty percent of the crop had emerged on May 30. In the past US spring wheat crops Read more…
The US hog inventory on June 1 declined about 6% year over year based on data available in early June. Hog prices exceeded $100/cwt last quarter but just kept up with corn values leaving hog production profitability slightly under the last five years. 2021 US balance based on Read more…