The erosion in US spring wheat crop health has crossed the threshold of worrying only about high protein supply. Yield loss is now expected to be great enough that a sizable decline in US all-wheat production will accelerate the multiyear contraction in US stocks. The graphic below displays the correlation between good/excellent ratings on July…
On a national basis, Central US weather will be most critical to corn yield determination during a two-week period stretching from July 10 to July 24. This is also when corn’s moisture demands will peak. Weather must be taken one week at a time, particularly amid volatility associated with historical old crop tightness, but it…
NASS completed its survey of US hog producers and will release the June Hogs and Pigs report on Thursday. The hog market has been in a liquidation phase since the 1st quarter of 2020. And the covid pandemic put increased strain on the industry last summer. However, the hog market came out of the pandemic…
ARC pegs June 1 US wheat stocks at 831 Mil Bu, down 197 Mil from last year vs. the USDA’s projected 852 Mil Bu. US March-May wheat exports were larger than expected. Feed/residual disappearance is calculated at -10 Mil Bu which reflects historically strong Mar-May feed disappearance. It is difficult to precisely quantify feed use,…
The June Grain Stocks Report will be released on the 30th. The May soybean crush rate was the final data point needed to estimate Mar-May soybean use and the quarterly ending stocks figure. AgResource estimates US June 1st soybean stocks at 742 Mil Bu. This will be 639 Mil Bu (46%) less than a year…
