Global corn supply & demand was only modestly adjusted. Combined Brazilian & Argentine production is unchanged at 151 MMTs, vs. 152 MMTs last year. Amid the arrival of needed rain to Central Argentina this week, only Brazilian dryness in April-May can materially alter South America’s exportable corn surplus. ARC does mention that South African corn…
The March International trade report confirmed that the record large US pork export rate persisted through January. US pork exporters shipped 663 Mil Lbs of pork, a 39% increase over last year, the largest January export rate on record. US packers manufactured a record large 2,553 Mil Lbs of pork in January with exports as…
The International Trade report released Friday showed January soybean exports totaled 195 Mil Bu. The export total was slightly better than expectations and 18 Mil Bu more than a year ago. Exports to China were 29 Mil Bu (57%) larger than a year ago at 79 Mil Bu, while exports to the rest of the…
AgResource’s preliminary look into EU grain supply & demand suggests a shift in production in 2020. Winter wheat area in Europe contracted following excessive autumn rainfall in the UK, France and Western Germany. There’s a measure of concern in Western Europe amid the recent return of excessive rainfall and leaching of fertilizer. Assuming harvested area…
AgResource has lowered projected 2019/20 US corn exports to 1,625 Mil Bu, down 50 Mil from our previous forecast and a full 100 Mil Bu below the USDA’s February estimate. A boost in shipments is expected into spring, but it’s the extremely slow start of US corn shipments early in the crop year that limits…
