After a drier than normal start across much of the principal soybean growing areas in N Brazil, crops are finishing sharply mixed but with a less than ideal end. Crops in the north have been short on rain, while crops in the Central part of Brazil have been overwhelmed with too much rain (following an…
January Brazilian corn exports totaled 2.55 MMTs, down seasonally from recent months, but up 442,000 MTs (21%) from January 2019. Based on ship lineup data, ARC expects Brazilian exporters to ship 500,000 MTs of corn in February, up 160,000 MTs on the prior year and which suggests the USDA’s old crop Brazilian corn export forecast…
Oat, rice and spring wheat crops can afford modest acreage contraction in 2021, but otherwise the preceding table reflects planted area that must be achieved to keep stocks adequate – or in the case of soybeans above the pipeline minimum of 120 Mil Bu. Total US cropped area must reach 316-318 Mil acres, up 12.2…
The beginning of February marks the start of the countdown for new crop insurance base prices. Producers will use 5 year average yields and an average of the daily closing prices for December corn futures and November soybean futures during February to calculate their revenue guarantee from the Federal Crop Insurance program. Program signup begins…
The January Cattle on Feed Report is rarely a market-moving data set but does offer guidance for long term industry trends. Measuring the report against trade estimates is also difficult because NASS usually makes significant revisions to the previous year’s inventory. So with that said, AgResource views the report as neutral for the beef industry.…
