The January Crop Report showed that total US hay production in 2022 fell 7.4 Mil tons (6%) from last year to 112.8 Mil tons. This was the lowest national production rate since 1959! Not surprisingly, the largest declines once again occurred in the Great Plains states. Hay production in NE fell by 1.95 Mil tons…
2022/23 US ending stocks were lowered just 15 Mil Bu as lower projected exports and feed use nearly offset reduced production. USDA’s export estimate is better aligned with pace analysis, but a 25-50 Mil Bu trimming of ethanol’s demand draw is due in February if the pace of weekly grind fails to improve in the…
US industrial corn consumption remains weak. ARC notes that improving ethanol margins – mostly due to elevated DDG prices – should allow weekly/monthly grind to improve in spring, but in the near-term there’s no incentive to materially boost inventory levels. And production gains moving forward are likely to only increase ethanol supplies. Demand remains well…
The USDA will release several key fundamental reports for the grain markets on Thursday, but it’s the Quarterly Grain Stocks report that typically holds the most significance for US corn and soybean markets. It’s the first post-harvest view of US grain supplies. The report produced significant price responses in both cash grain and CBOT futures…
ARC estimates 2023/24 US winter wheat seeding at 35.1 Mil Acres, up 1.83 Mil year-over-year and up 300,000 from our previous estimate in late November. RMA insurance enrollment data is cited, with total winter wheat acres enrolled in RMA programs up a sizable 2.2 Mil from last year. The correlation is decent but not perfect,…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
