The EIA’s Monthly Energy review that was released today showed that US biodiesel production in May jumped 18% from April and was 15% larger than a year ago at 156.3 Mil Gal. It was also the largest 1-month production rate in 29 months and record large for the month of May. May renewable diesel production…
When surveying for the December Grain Stocks report, NASS also asks farmers and elevators about their storage capacity. The 2022 survey showed that total grain storage capacity (both on and off-farm) had increased by 0.1% to 25.4 Bil Bu. US farmers had added 30 Mil Bu of capacity, while off-farm storage increased by just 5.4…
There’s still very little water in Argentina! The 2023 growing season will be the second in a row in which water available to wheat and early planted corn & soy must come from the sky, and a shift to regular rainfall is needed no later than early September. The attached graphic shows topsoil (left) and…
Hog and cattle markets have seen sharply divergent trends in 2023. Cattle prices have soared to record levels on tightening supplies, while hog prices trended lower through the first half of the year on adequate supply and falling domestic demand. The cattle market has stalled in recent weeks, while the hog market has confirmed a…
There’s no major rebuttal available to the correction in US/global corn values. The Central US’s weather pattern shift in late June/early July was a big deal and safrinha yields in C Brazil have exceeded expectations. There will be no shortage of corn over the next several months, but the question is where global feed markets…
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