US and South American corn prices have fallen sharply amid ethanol demand destruction and a lack of offsetting bullish weather input. However, world barley cash prices have been flat since the middle of 2019. The attached graphic shows that EU and Black Sea barley prices have maintained a sizable $20-30/MT (15-20%) premium to US Gulf…
Brazil soybean exports soared to a record in April, primarily driven by strong Chinese demand. Private shipping data indicated exports of just over 14 MMTs, while preliminary government export data shows 16 MMTs. Both figures are record large and they indicate that 1st quarter exports in the local Brazilian marketing year were record large at…
There’s talk in the marketplace that a substantial shift in seedings from corn to soybeans will be revealed in NASS’s June acreage release. However, AgResource’s work suggest that amid recent and upcoming favorable Central US wheat planting conditions, a shift in corn acres of more than 1 million would be highly abnormal. Simply put, it’s…
Unlike a year ago, the 2020 corn crop has been planted in a timely fashion. As of last Sunday, 67% of the US corn crop was planted, and ARC estimates that national progress could reach 79-83% by this Sunday. National planting progress reached 50% complete on May 3 versus May 20th last year, and four…
The USDA in its May WASDE surprised the trade with higher than expected 2020 US and world wheat stocks estimates. That US wheat end stocks will exceed 900 Mil Bu for a 6th consecutive year will weigh on rally efforts through at least early summer as Northern Hemisphere crops are gathered and as Jun-August feed…
