U.S. soybean oil sales are running well ahead of the pace needed to match the USDA’s crop year export total of 1.7 billion pounds or 771 thousand tonnes. The accompanying scatter chart displays crop year exports as a function of Read more…
The USDA has estimated the January 1 U.S. feeder supply outside feedlots at roughly 200 thousand head less than available a year ago. We have scattered the 1st quarter feeder price as a function of the January 1 feeder supply. Read more…
U.S. soybean sales are close to that needed to match the USDA crop year export total of 1.775 billion bushels or 47 million tonnes. The accompanying scatter chart displays crop year exports as a function of late January sales.
The USDA made modest changes in the corn 2019/2020 supply/usage estimates this month. The feed estimate was raised to 5.5 billion bushels from 5.35 billion the previous month and 5.6 billion bushels a year ago. The U.S. hog herd was Read more…
The USDA made only minor changes in the soybean complex supply/usage estimates this month. USDA elected not to change the South American soybean crop estimate leaving Brazil at 123 million tonnes and Argentine output at 53 million tonnes. USDA shuffled Read more…
The accompanying economic value study estimates the winter – early spring high and low for Central Ill soybean prices. The study uses U.S. soybean carryout stocks and the quantity of U.S. soybean oil used as fuel or exported as independent Read more…
Weather in Argentina has generally favored the soybean crop this season (January in the Southern Hemisphere equates to July in the U.S.) USDA is likely to maintain the December forecast of 53 million tonnes included with the January World Supply Read more…
Last month the USDA forecast the first quarter domestic per capita beef supply at 19.5 pounds which is a slight increase from the previous year. The accompanying scatter study uses the per capita supply as barometer and average price of Read more…
Soybean oil prices have moved sharply higher since the completion of harvest. A depletion in world and U.S. soybean oil stocks has been the dominate force behind the stronger oil market. USDA has forecast a sharp increase in Biofuel use Read more…
Late December U.S. soybean Meal sales for the current season totaled 5.5 million tonnes compared to 6.8 million tonnes at the same point last season. This scatter study uses late December sales as a barometer of crop year exports. The Read more…
Late December U.S. soybean sales for the current season totaled 29.5 million tonnes compared to 31 million tonnes at the same point last season. This scatter study uses late December sales as a barometer of crop year exports. The USDA’s Read more…
Weather in the southern hemisphere will be the dominant force in the soybean market this month. A China trade agreement would be a positive force on soybean price discovery.
The USDA estimated the market hog inventory December 1, 2019 at almost 71 million head compared to less than 69 million head at the same time a year ago. The number easily exceeded the trend established the previous 40 years. Read more…