US old crop soybean exports have slowed to a crawl in recent months as world demand has shifted to Brazil. But until recently, new sales were accruing at a rate of 2-4 Mil Bu per week, and exports have held from 10-12 Mil Bu per week since April. To date, there have not been any…
Additionally, WASDE confirmed that the world’s cupboard has been run bare. Brazilian production was lowered to 98.5 MMTs vs. 102 previously. This along with enlarged US industrial use and higher global trade pulled 20/21 exporter corn stocks/use to 5.7% – a record low. Assuming record yield in the US and a record crop in Brazil…
US pork exports in April eased from the record high that was set in March. But at 729 Mil Lbs, the monthly export rate was 102% of last year and record large for the month. China remains a major market for US pork, but the pace continues to fall behind a year ago. April exports…
Census April Trade data showed US soybean exports of 50.9 Mil Bu, a marketing year monthly low and 29 Mil Bu fewer than last year. However, the April Census Bureau total was 9.5 Mil Bu more than the monthly FGIS April inspections. FGIS releases US export inspections each Monday. The difference between the 2 reporting…
CBT corn futures have added risk premium amid early-season US weather adversity and plunging spring wheat yield potential across the Northern Plains and Pacific Northwest. Yet, the US/global corn outlook stays bullish into early 2022 as old crop stocks are trimmed and new crop demand expands. AgResource maintains a final 20/21 US corn export forecast…
