Updating U.S. May, June and July Outlooks
The 3-month outlook valid for MAY/JUN/JUL 2019 remains warmer than normal although Texas to the Corn Belt is adjusted wetter.
The 3-month outlook valid for MAY/JUN/JUL 2019 remains warmer than normal although Texas to the Corn Belt is adjusted wetter.
The US won a critical WTO case against China for not adhering to prior obligations to open its market to world agricultural grain trade. This marked the second consecutive WTO win for the US in the last few months. On April 18th, the WTO ruled and sided with the US that China did not…
CBOT futures have recovered as the US dollar retreats from its session highs. The dollar is still in positive territory, but the macro landscape today is moderately improved. Gasoline futures are up another two pennies, which has pushed ethanol blend margins to new 6-month highs. Currencies in Brazil and Australia are a bit stronger at…
Summary: This week, old-crop US corn export sales rose 425,300 MT (226,200 MT for new-crop). Old-crop sales were below the low end of the range of industry expectations. In the April WASDE, the USDA lowered their projection of US exports by 100 Mil Bu to 2,300 Mil Bu (vs. last year’s record 2,438 Mil). At…
A wet pattern trends wetter and the national outlook is cooler.
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