The International Trade report released Friday showed January soybean exports totaled 195 Mil Bu. The export total was slightly better than expectations and 18 Mil Bu more than a year ago. Exports to China were 29 Mil Bu (57%) larger than a year ago at 79 Mil Bu, while exports to the rest of the…
AgResource’s preliminary look into EU grain supply & demand suggests a shift in production in 2020. Winter wheat area in Europe contracted following excessive autumn rainfall in the UK, France and Western Germany. There’s a measure of concern in Western Europe amid the recent return of excessive rainfall and leaching of fertilizer. Assuming harvested area…
AgResource has lowered projected 2019/20 US corn exports to 1,625 Mil Bu, down 50 Mil from our previous forecast and a full 100 Mil Bu below the USDA’s February estimate. A boost in shipments is expected into spring, but it’s the extremely slow start of US corn shipments early in the crop year that limits…
Argentine soybean yields have been volatile with either a boom or bust yield occurring every 2-4 years. Most recently, a drought in 2017/18 produced a 27% drop in yield, while favorable weather the following year resulted in a 44% increase. Following last year’s record, yields in 2019/20 are expected to revert near trend. The table…
Eastern Australia’s climate has changed dramatically since the opening days of 2020. A multi-year drought has ended – just ahead of wheat seeding – and additional rain in March will trigger rather noticeable positive soil moisture anomalies. Assuming the EU model’s two-week forecast verifies, Jan 1-March 15 precip in Queensland and New South Wales will…
