The release of FSA-certified acres on Wednesday afternoon has elevated the market’s uncertainty over US corn and soybean production. FSA acres tend to be confusing to the marketplace, particularly in August. AgResource’s advice to FSA is that they should release farm program participation data when its nearly complete – either in September or October. This…
South American corn balance sheets were left untouched in both old and new crop years. Somewhat surprisingly, USDA raised Ukrainian production to 39.5 MMTs vs. 39 MMTs in July. Both area and yield were lifted slightly. ARC notes that USDA/NASA vegetation health continues to show adequate soil moisture in Ukraine despite summer dryness – recall…
CONAB’s August crop report featured a modest upward revision to Brazilian soy/corn production to new records. CONAB estimates Brazilian corn production at 102 MMTs vs. 101 in July (vs. USDA’s 101 MMTs). Safrinha corn area and yield were both raised slightly. Another upward revision of 0.5-2.0 MMTs is probable in CONAB’s September report – which…
US and world wheat markets continue to reel from rising production estimates, most notably in Russia amid record winter wheat yields in the Central Region. Most important is that ARC’s work suggests combination of yield hikes will place 2020 major exporter wheat production above last year – and the highest since 2017/18. No longer is…
In the Annual US Land Values report released Thursday, NASS reported that the national average farm real estate value was unchanged from last year at $3,160/acre. NASS defines a farm as any establishment with $1,000 or more agriculture product sales. Farm real estate considers all land, buildings, and homes. The data is survey-based and collected…
