AgResource’s updated US corn production forecast is lowered slightly to reflect known harvest data and historical trends in NASS changes. On the margin, yield is lowered slightly in CO, IL, IN, IA, MI, PA and TX. Yield is raised slightly in MN, KY and WI. The attached graphic shows that following a yield reduction in…
Hog and cattle markets are in the process of recovering from the major shocks caused last spring. The markets are steadily readjusting the spring market disruptions, and normal seasonal trends in both hog/pork and cattle/beef markets are expected to resume in early 2021. Forecasting red meat supply and demand has proven to be difficult, and…
The European corn market has quickly become one of the more bullish ag markets in the world. This is due to a combination of corn, wheat and barley yield loss within Europe, Ukraine’s massive shortfall in corn production and Europe’s inability to source corn from the US amid phytosanitary issues and prohibitive import tariffs. The…
Ukrainian corn yield data began the season weakly. This was expected following a meaningful lack of rain across the northern part of the country during the late summer. However, yields have failed to improve as harvest progressed south and sub 30 MMTs Ukraine 2020 corn crop is forecast. The ’20 Ukraine corn crop is 56%…
CBOT soy futures rallied through September on growing US exports/sales to China. The last leg up has come from delayed Brazilian planting and ideas that the US soybean export window could be extended. Last week’s US export sales report showed cumulative exports totaled 420 Mil Bu, 185% of a year ago, a record. Current exports…
