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…
In the May WASDE, the USDA raised the live hog price forecast for the 4th quarter by $1 from the April estimate to $60. This is up from the January WASDE forecast of $45, and if realized, will be a full $10 over last year. There are just 2 other years that the 4th quarter…
Combined 2020/21 EU + UK corn, wheat and barley stocks are forecast to be a 13-year low 23.7 MMTs with combined stocks/use to be a record low 9.2%. AgResource’s work suggests the EU + UK grain balance sheet will be tightening further amid slower than expected corn imports. The EU joins the US in needing…
