NASS has completed its survey of US hog producers on September 1st and will release the September Hogs and Pigs report next week. Herd liquidation got underway in the 2nd quarter and has remained elevated through the summer amid deeply negative farrowing margins. Estimated farrow-to-finish margins from IA State University were above break-even in July…
US ethanol corn demand has stagnated in recent years as the 15 Bil gallon mandate has not been lifted by EPA. This means that US ethanol production is a function of unleaded gasoline use – which is in a growth stage. AgResource in recent weeks has highlighted that ethanol production margins have improved significantly as…
The USDA’s soybean stocks estimate for the 2022/23 crop has been in a wide range from the initial estimate in May 2022. The initial forecast put stocks at 310 Mil Bu, with a stocks/use ratio of 6.8%. By January, the USDA’s stocks projection had declined to 210 Mil Bu, and stocks/use was projected at 4.8%.…
NOPA reported an August soybean crush rate of 161.5 Mil Bu, down 4 Mil Bu from July and 11 Mil Bu less than a year ago. Compared to July, crush rates were regionally mixed. The IA crush was 4.9 Mil Bu less than a year ago and the Southwest US crush fell 2 Mil Bu.…
The table reflects monthly supply and disappearance rates for the US soybean oil balance sheet. The numbers in black are known figures, and the numbers in red are estimates based on the September WASDE’s annual projections. Worth noting are the domestic figures for May and June, which are highlighted in the green box. May was…
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