US wheat futures have recovered from early-week weakness as it’s clear that breaks only serve to encourage fresh end user buying. Northern Hemisphere supplies are being solidified, and for the most part wheat’s supply issue cannot be solved until next year’s harvest. The market’s focus turns to the rate of global consumption and trade –…
FAS reported weekly old crop soybean exports at an 11-week high of 9.6 Mil Bu, with old crop sales at 2.8 Mil Bu. The two figures combined take total 2020/21 US soybean export commitments to a record large 2,284 Mil Bu. The export pace through the summer has been down from a year ago, but…
On Monday, AgResource discussed how US Gulf corn is becoming economically attractive in the world feedgrain marketplace via rapidly rising feed wheat and barley prices. Competitive US corn values will translate into improved export demand within the next 30 days. AgResource forecasts 2021/22 US corn export potential well above the USDA’s currently projected 2.4 Bil…
In the last half of the summer, the soybean market focus has been directed towards weather across the Midwest and the week-to-week changes in crop condition ratings. The August Crop Report slightly lowered the yield estimate, while the ProFarmer Crop Tour suggested that NASS underestimated US yield. The trade now waits to see if NASS…
The absence of meaningful US corn export demand has allowed to the marketplace to focus exclusively on US weather and the looming harvest. Recall normal seasonal trends are neutral/bearish during the second half of August. In recent years ARC suspects this is due to the flood of producer pricing prior to the delivery of September…
