Preliminary trade data from Chinese Customs showed a March soybean imports of just 4.3 MMTs. This total was 1 MMTs short of expectations based on major exporters shipments and 640,000 MTs less than a year ago – the lowest since 2015. Brazil’s massive soybean loadings to China are likely pushed into April. While March 2020…
Winter-like temps due across the Midwest this week has put a temporary stop to early spring planting. Corn planted prior to this week is not expected to emerge until after April 20th. Yet, ARC anticipates a normal second half of spring and thus a timely seeding of corn acres across the Plains and Midwest. Overnight…
South American corn balance sheets were left untouched. However, old crop corn exporters stocks and stocks/use were raised noticeably amid revisions to the US balance sheet. Combined exporter 2019/20 stocks/use is now pegged at 12% vs. 11% in March. ARC’s bet is that old crop exporter stocks/use continues to rise as ethanol use is further…
NASS’s March Seeding Intentions Report has produced a chorus of argument surrounding changes in intended corn and soybean area. This debate is typical following the release of major USDA data, but was especially true with US 2020 corn seeding forecast at 97.0 Mil acres, the 2nd largest since 1940. And 2020 has been unique in…
US food supply chains have been dramatically disrupted over the last month as the US restaurant industry has shut down, while food demand at the grocery store has exploded. The wholesale choice beef cutout rallied more than $50/cwt in just seven days and has given back half of those gains over the last nine days.…
