The April Cattle on Feed Report was leaned bearish, relative to expectations, with March placements reported at 100% of last year versus estimates of 92%. The larger placement rate put the April feedlot inventory at 102% of last year compared to the average trade estimate of 100%. The report also confirmed a record large April…
The table above reflects soybean production estimates based on planted acreage estimates from the Prospective Plantings report, average abandonment rates, and each state’s 5-year average soybean yield. Trend yield is often the benchmark for yield forecasting, as it captures changes in technology and agronomic practices over time. 1960 has historically been the starting point for…
The market’s perception of US corn yield potential will be a dominant driver of price direction once the crop is seeded and condition ratings start to be released in early June. Amid record low exporter corn stock/use and near-pipeline minimum US 2022/23 stocks, whether the market perceives yield at 181 or below 175 will trigger…
The latest report from the Malaysian Palm Oil Board showed that palm oil production forged a low in February and has made the seasonal turn higher. March production totaled 1.41 MMTs versus 1.14 MMTs in February. However, the March production figure was slightly less than a year ago and the first month this year to…
The wet season in tropical latitudes of Brazil has ended prematurely, which is a concern given the expansion in acreage in Mato Grosso and Goias in recent years. The safrinha crop in Brazil was planted in a timely fashion and will need additional rain to help the crop during the reproductive period. The graphic attached…
