World wheat cash markets have rallied to new seasonal highs this week with the EU, Black Sea and Gulf HRW offered between $218-226/MT for February fob. This compares to seasonal lows in September of $185-187/MT. ARC views this year’s $35MT (19%) rally as a function of rising cash prices in Russia – due to tighter…
Two months into the USDA’s international marketing year for soymeal, shipments from major exporters have been record large. Combined US/BR/AR soybean meal exports in October totaled 5.2 MMTs – up 21% from a year ago. November exports of 4.4 MMTs were 11% more than a year ago, record large for the month. Argentina has captured…
The RMA’s winter wheat insurance enrollment data series is more complete, and this week’s update continues to indicate another decline in US winter wheat seedings. As of the last week of December, winter wheat acres enrolled in RMA programs sits at 10.8 Mil acres, down 1.1 Mil acres from last year. This is also down…
The December Hogs and Pigs report on Monday did not hold any significant surprises, and CME hog futures have traded firm since the report release. However, the report confirmed another record large hog inventory, with the total December 1st hog inventory at 103% of a year ago at 77.3 Mil head. The Dec 1 breeding…
** AgResource Guess of $40 Bil of China Demand for US Ag Products: It has almost become a new sport in the Chicago ag markets – estimating and betting on what China will secure in the 1st year of a Phase 1 Trade agreement! Traders assume that the US/China will ink a Phase 1 Agreement…
