However, the entirety of this build in global stocks hinges upon ideal weather and record yields. Old crop exporter stocks remain historically tight at 8.2%, and ARC maintains that USDA’s Argentine crop estimate of 37 MMTS is 5-6 MMTs too high. USDA’s hike in old crop Brazilian corn production, from 125 to 130 MMTs, is…
At the halfway point of the international marketing year for soymeal, world soymeal exports from major exporters have reflected an overall decline in demand. US and world prices have been historically high due to strong soybean prices through the first quarter and a sharp decline in Argentine soybean crush and exportable meal supplies. AgResource estimates…
There’s little doubt Brazilian corn production in 2023 will be record large. Recall the current record (last year) is 116 MMTs, and even assuming safrinha corn yield loss of 7-8% relative to trend, output will be higher year-over-year. However, ARC does look for a trimming of harvested area/yield following a latent planting season in Parana…
April 1 Feeder Cattle Supplies: The latest updates from the USDA on feeder cattle inventory estimates put the total US cattle on feed inventory as of April 1st at 14.072 Mil head, a 748,000 head or 5% decline from last year. It’s the lowest since 2020 when inventories were sharply reduced due to severe economic…
ARC’s research strongly suggests this the wrong year – and wrong time of year – to prematurely count on normalization of major crop supply and demand. The entirety of a critical Northern Hemisphere growing season lies ahead, and war will intensify in Eastern Europe & Asia’s breadbaskets. The size of Ukrainian corn and wheat crops…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
