The seasonal rise in South America’s cash corn market opens a window for improved US export demand. This window likely stays open between February and April, but AgResource doubts this boost in sales/shipments will be enough to trigger a hike in annual export forecasts. Recall US corn export commitments as of Dec 22 totaled just…
The EIA’s December Monthly Energy Review showed that total biodiesel and renewable fuel production rose to a new record high in September. The renewable fuel industry continues to show production growth, with total renewable diesel production reaching 135 million gallons in September. This was an 18 million gallon (15%) increase over August and an 82…
AgResource projects Dec 1 US wheat stocks at 1,320 Mil Bu, down 58 Mil from last year and the lowest since 2007. The loss of inventory this year is mostly attributed to production loss and to a lesser degree smaller 22/23 carry-in supplies. Similar to corn, stocks are down but stocks/use is projected slightly above…
AgResource estimates US corn stocks as of Dec 1st at 11,062 Mil Bu, down 573 Mil Bu year-over-year and the lowest since 2013. Dec 1 stocks at 11.0-11.1 Bil Bu will validate calls for final year-end stocks of 1.2-1.4 Bil Bu, but ARC notes that it’s clear the market is slowing consumption rates. Sep-Nov exports…
The December Hogs and Pigs report lacked a bearish surprise, and CME hog futures closed higher to start the week. All contracts beyond February marked new contract highs to start the week, as inventories of all classes of market hogs were below last year. Producers told NASS that they farrowed 3.004 Mil sows in the…
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