Plains row crop production continues to adjust to US and world market conditions. As the Black Sea region expands its total wheat supplies to 125 MMTs, vs. 90 in 2010, there’s been fewer bushels of high protein wheat needed to meet US domestic consumption. The attached graphic shows that the share of arable land in…
Brazilian trade data for October showed that exporters shipped out 4.9 MMTs of soybeans during the month. The figure was slightly better than October and just above private estimates. Cumulative exports for the Brazilian crop marketing year are 9% less than a year ago at 66.8 MMTs in a mix of reduced Chinese demand, along…
CBOT corn futures have struggled on rallies despite a rise in S American cash prices and uncertainty over future export taxes in Ukraine. This struggle has been due to continued elevated competition for world market share which will continue into the first quarter of 2020. The Black Sea corn crop is actively being harvested and…
Hog feeders today are watching April CME hogs as weaned pigs placed today, will be marketed against the April futures. CME hog futures have followed the nearby cash price trends of the last year, but to a lesser extent. Rallies have not been as fierce and breaks not as significant, but the April contract has…
Argentina’s transition of Presidential power suggests a change to the country’s Ag industry could unfold in the months ahead. Market focus is on whether grain/soy complex export taxes will be raised in 2020 in an effort to boost available public financing. There’s little doubt that the lack of grain export taxes (and reduced soybean export…
