Soybean planting progress in Argentina has been delayed by limited rainfall and dry soil conditions. Last week, the Buenos Aires Exchange estimated that 39% of the national soybean crop had been planted, unchanged from a year ago. Last year’s crop was one of the latest planted crops in recent history, and this year is going…
The EIA’s Biodiesel Production report showed that US B100 plants manufactured 159 Mil gallons of B100 during the month of September. The figure was down just 4 Mil gallons from August. A declining trend was expected as estimated margins plunged in the last half of the month amid climbing soybean oil prices and weaker B100…
ABARES in its Dec crop report raised its Aussie wheat production forecast to 31.2 MMTs, vs. 28.9 previously. ABARES new forecast is just 650,000 MTs from the record posted in 2016. This upward revision was expected, but it serves as a reminder that there will be no shortage of exportable wheat supplies into at least…
Global crop losses in 2020 relative to initial May expectations exist at the upper end of history when measured in tonnage. Combined global coarse grain and oilseed production in the USDA’s November WASDE was pegged at 2,045 MMTs, down 42 MMTs from the USDA’s estimate in May – and down 46 MMTs from USDA’s peak…
Crop conditions across key soybean production regions in Brazil continue to deteriorate. Cumulative rainfall across the Midwestern region has averaged 49% of normal over the last 90 days. Today’s forecast doesn’t indicate a change for the hot/dry weather pattern into early December. Without a doubt, current conditions have diminished crop potential. However, the latest crop…
