USDA rated 67% of the US soybean crop as in good or excellent condition on July 28, 2024 which is in the top 25% of soybean crop ratings for the same week over the past 35+ years. This week’s rating suggests a US national average soybean yield of 52.4 bushels Read more…
USDA rated 67% of the US corn crop in good or excellent condition on 7/21/2024 which is in the upper 51% of ratings in the period 1985 through 2023. On the same date 61% of the corn crop had reached the Silk stage, which was ahead of the recent five Read more…
USDA reported July 1, 2024 cattle on feed numbers up 1% from a year earlier, but both June placements and finished cattle sales declined sharply compared to a year ago. Forty percent of July 1 feedlot inventory were heifers which is well above the 33% in 2015 when the cattle Read more…
USDA upped the assessment of US pork production over the next 18 months. US farmers increased hog production efficiency, as measured by the number of pigs saved per litter, by 3% during the first half of 2024 compared to an average 1% per annum in the preceding 5 years. US Read more…
The recent “Bear Market” for new crop corn futures contracts has already discounted much of the outlook for surplus US corn supplies during the 2024/2025 crop year. The prospective US US new crop corn carryover stocks projection could increase to 2.5 billion bushels compared to USDA’s June forecast of 2.2 Read more…
USDA rated 68% of the US soybean acreage in good or excellent condition as of July 7, 2024. The July 7 index was 12% better than the previous 38-year average for early July, and a yield of 52 bushels per harvested acre which is fractionally greater than the record US Read more…