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…
The March trade data showed that the pork export rate continues to recover, with exports to all major destinations reflecting gains. March exports of 608 Mil Lbs were 112% of last year, with the largest increase to Mexico. After slowing slightly in February, March exports to Mexico were 110% of last year and record large.…
The May International Trade report showed US that US soybean exporters shipped out 115 Mil Bu of soybeans in March. This was 2 Mil Bu less than a year ago and the lowest monthly figure of the crop year, but nearly 10 Mil Bu more than was reported in the monthly Export Inspections report. Exports…
AgResource estimates US winter wheat production in 2023 at 1,247 Mil Bu, using a yield of 46.9 Bu/Acre and abandonment of 29%, vs. 23% on average. If verified, production will be up only 143 Mil Bu despite last autumn’s 4.2 Mil Acre increase in seedings. Once again the issue is historic Plains drought, which along…
The May Fats and Oils report showed a March soybean crush rate of 197.97 Mil Bu, stopping just short of the all-time high crush rate that was set in December 2021, but still 103% of last year and a record large crush the month of March. Soybean oil production was equally high, with processors manufacturing…
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