US cash corn has been resilient in the face of a rapid 2022 harvest, pitiful US corn export demand and as the market can see just how aggressive Brazilian exporters will be with Feb-Jun sales assuming crop problems can be avoided in the next 45-60 days. Relative market strength makes sense amid the focus on…
The USDA’s January Report holds many statistical moving pieces. NASS updates acreage, yield, and production estimates and December 1st grain stocks. The WASDE report takes NASS’s production figures and makes any necessary changes to the supply and demand outlooks for the year. The chart plots the historical changes in crop production between the November and…
US new crop soybean export sales through Nov 10th totaled 1,322 Mil Bu, a 51 Mil Bu increase over last year, which is largely due to increased export sales to China, while non-China sales are down 27 Mil Bu from a year ago. Sales to China are 78 Mil Bu larger than a year ago,…
There was a brief perceived disruption on Tuesday, but the recent ascent of Russian wheat exports – to historically normal levels – has eased pressure previously placed on balance sheets in other exporting countries. Russian wheat exports in October were 4.7 MMTs, up 1.4 MMTs from the previous year. Pace analysis so far in November…
The November NOPA soybean crush report was viewed as neutral. NOPA reported an October soybean crush rate of 184.5 Mil Bu, slightly above last year, and the second largest October crush rate on record. Crush rates seasonally increased in all of the NOPA reporting regions as new crop supplies arrive. However, crush rates were regionally…
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