Chinese food inflation in January was pegged at a lofty 21% – the highest in 12 years! This follows a modest cooldown in food prices in January, but it’s clear that China has a major food supply/demand imbalance. China’s hog herd hog numbers are down sharply due to African Swine Fever (ASF). For Chinese pork…
AgResource estimates US combined major crop seeding in 2020 at 236 Mil acres. This compares to final acres in 2019/20 of 224 Mil but is down slightly from seeding intentions of 2019. ARC notes that total cropped area in the US fell 19.6 Mil Acres from March due to Prevent Planting amid the excessive spring…
US pork exports were the main agriculture feature in the International Trade Report for December. US pork exports reached a new all-time high for the 2nd consecutive month with shipments of 681 Mil Lbs. The figure was up 58 Mil Lbs (9%) from November and 155 Mil Lbs (29%) from a year ago. The rise…
The International Trade report on Wednesday showed a US soybean export rate of 204 Mil Bu in December. The figure was slightly better than expected and 57 Mil Bu larger than a year ago. However, December shipments still fell short of the 5-year average. The return of China to the US market was again notable…
Soybean harvest in Brazil is slowly gaining speed and the early yield results have exceeded producer expectations. AgResource estimates that 14% of the Brazilian crop had been cut through this Friday. The pace is behind last year’s record harvest rate, but just below the 5-year average. A year ago, adequate early season moisture allowed crops…
