Growth in ethanol’s corn demand draw in 2020/21 requires a change in both miles driven in the US and growth in demand for US ethanol abroad. Exports have been an increasingly important part of total US ethanol consumption. But Covid-19 has disrupted global use while at the same time Brazil’s ethanol industry is targeting new…
NOPA reported a July soybean crush rate of 173 Mil Bu, 4.7 Mil Bu more than a year ago and 1 Mil Bu more than expectations. It was the largest monthly NOPA crush rate since March and record large for July. Based on the NOPA data, ARC estimates a total US soybean crush of 183…
The largest private crop tour in the United States kicks off on Monday. The tour, organized by agricultural newsletter Pro Farmer, deploys teams of volunteer scouts to survey hundreds of corn/soybean fields across a seven-state area of the Midwest. There is both eastern and western leg of the tour. The states surveyed include: OH, IN,…
The release of FSA-certified acres on Wednesday afternoon has elevated the market’s uncertainty over US corn and soybean production. FSA acres tend to be confusing to the marketplace, particularly in August. AgResource’s advice to FSA is that they should release farm program participation data when its nearly complete – either in September or October. This…
South American corn balance sheets were left untouched in both old and new crop years. Somewhat surprisingly, USDA raised Ukrainian production to 39.5 MMTs vs. 39 MMTs in July. Both area and yield were lifted slightly. ARC notes that USDA/NASA vegetation health continues to show adequate soil moisture in Ukraine despite summer dryness – recall…
