The USDA left major exporter corn stocks/use unchanged at 17%. Reduced carry-in stocks in Argentina offset a larger projected Brazilian crop in 20/21. Old crop South American production was untouched. ARC’s work suggests major exporter stocks/use will rise further in coming reports. When accounting for lower 2019/20 industrial use in the US, major exporter corn…
NASS is in the process of conducting its survey of US hog producers for the June Hogs and Pigs report, to be released at the end of the month. Following major market disruptions during the spring coronavirus crisis, the June report is expected to be one of the most important hog reports in years. Anecdotally,…
CONAB pegged the total 2020 Brazilian corn crop at 101.0 MMTs vs. 102.3 in March, and final production of 100.0 MMTs last year. Safrinha production was lowered a combined 1.7 MMTs in Parana, Sao Paulo and Mato Grosso do Sul. Early season conditions were arid and a further reduction in yield was expected. A slightly…
Ahead of Thursday’s June crop report, AgResource projects US winter wheat production at 1,238 Mil Bu, down 17 Mil Bu from the NASS’s forecast in May. This places total winter wheat yield at 51 Bu/Acre, closer to the 20-year linear trend. The drop is largely a function of updated crop ratings and vegetation health compared…
The June US Census Trade Report showed US pork exports totaled 641 Mil Lbs, 60 Mil Lbs less than in March, but 117 Mil Lbs more than a year ago. It was the smallest export figure in 5 months, but a record large for April. This follows a record large 1st quarter export total of…
