Soybean oil values hit new all time highs last week on news Indonesia, the world’s biggest palm oil exporter, would restrict palm oil export sales to limit domestic food inflation. The three year bull market in soybean oil has resulted in major changes in the soybean crush industry. Soybean oil Read more…
March 2022 Cattle feedlot placements declined modestly last month but remained at a relatively high level compared with same month data published in recent years. Finished cattle marketings also declined fractionally on a year over year basis. Live (finished) cattle sales will likely decline slightly year over year for the Read more…
Soybean export sales hit a record 67 million tonnes on 04/14/2022 thanks to Chinese purchases of new crop soybeans. A short soybean crop in South America has boosted US soybean export sales. USDA will likely boost old crop US soybean exports in next month’s WASDE report Note data include both Read more…
The USDA rated just 30% of the US winter wheat crop in good or excellent condition on 04/17/2022 which is near the bottom of mid April ratings over the last 30+ years of available mid April data. We forecast the 2022 US winter wheat crop at just over 1.2 billion Read more…
The March planted area survey found US farmers planning to cut planted area in favor of other row crops. The corn market has been on a mission to both ration old crop corn supplies and induce farmers to plant more area to corn this spring. We have prepared several charts Read more…
The new crop US wheat carryout could remain near minimum pipeline levels based on currently available data. The poor state of the US winter wheat crop suggests the total US wheat yield in 2022 will fall below trend even if the US spring wheat crop recovers the 2021 drought. The Read more…
US corn supplies will be tight again next crop year unless 1) high prices draw out more acres than indicated in the March survey, 2) the national average corn yield is well above that projected by USDA or 3) bigger foreign crops cut corn export demand for US corn. Higher Read more…
USDA rated just 30% of the US winter wheat crop in good or excellent condition on 4/3/2022 which compares to the 30 year average for that date of 52% of the crop rated in good/excellent condition. The early April index would project an average US winter wheat yield of 48 Read more…
USDA estimates a 700 thousand acre increase in area planted to wheat this year, but area harvested will likely increase by nearly double planted area because a poor season greatly reduced spring wheat area harvested in 2021. We have worked through the data and displayed the trend (except for plantings) Read more…
The USDA’s March survey found US farmers planning the fewest corn area this spring since 2018. The USDA’s trend line US corn area, yield & trend line usage forecasts suggest a modest reduction of already tight US corn stocks during the 2022/2023 crop year.