In the Annual USDA Farmland Value Report was just released. NASS reported that the US average farm real estate value increased by $420/acre (12%) to $3,800/acre. NASS defines a farm as any establishment with $1,000 or more agriculture product sales. Farm real estate is considered all land, buildings, and homes. The data is survey-based and…
The wheat market has lacked direction as determining fundamental fair value. The major exporter wheat balance sheet can be viewed as bullish or slightly bearish depending on whether the Black Sea region can maximize the export of its surplus. ARC, along with the rest of the trade, awaits additional vessel lineup and physical export data…
The Farm Service Agency will release its first update of certified and prevented acres after the August Crop Report on Friday. The FSA data is one piece of information that NASS uses to adjust acres in the October crop report, so there is often a flare of drama associated with the August release. NASS has…
US/Paris Wheat futures have been hesitant to add premium as a monster crop in Russia hangs in balance with a private Russian crop estimate lifted to 95+ MMTs, vs. 2021’s crop of just 75 MMTs. Yet, Russian crop size matters far less than Russia’s ability to export. ARC maintains that Russian wheat exports will be…
US pork exports in June were down 3% from May and 5% less than a year ago at 531 Mil Lbs. This marked the 10th consecutive month that the pork export rate was less than the previous year. Exports to China rose to a nine-month high of 50.4 Mil Lbs but were still 38 Mil…
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