The September US Census Trade Report showed that US exporters shipped 46.9 Mil Bu of soybeans in July. This was 1.6 Mil Bu larger than FGIS inspections reported last month, a 16 Mil Bu increase from June, the largest monthly export figure in 3 months. Compared to a year ago, exports were 38 Mil Bu…
ABARES’ first meaningful crop estimate of the season leans bullish of wheat, oats, sorghum and barley and neutral for oilseeds. Wheat production in 23/24 is estimated at 25.4 MMTs, vs. USDA’s 29 and vs. a record 39.7 in 22/23. Sorghum production is estimated at 1.5 MMTs, vs. USDA’s 1.8. Oat production is estimated at 1.1…
The FSA’s August release of crop acreage data showed that 258.5 Mil acres had been certified. A total of 255 Mil acres were reported as planted and failed, and another 2.56 million acres were declared as prevent plant acres. The 2023 August total of 258.5 million acres was 2.645 million acres larger than last year’s…
Stressful US soy crop finishing weather has collided with rare but dire drought in Canada and developing dryness in major canola producing areas of Australia. US soy yield loss by itself leans bullish, but equally important is that soy crush margins rest at record highs, and US soybeans today are the world’s cheapest oilseed. South…
Stats Canada’s initial model-based crop production forecasts were supportive. Canadian production in 2023 will be compounded by historically low carryover stocks, and so any downward revision to output requires a similar downward revision to export potential. Stats Can pegged Canadian all wheat production at 29.5 MMTs, a full 1 MMT below trade expectations and the…
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