On Tuesday, the Bureau of Labor Statistics reported that the US Consumer March Price Index which rose 0.8% from February and was 8.5% higher than a year ago. This was the highest inflation rate (as measured by the CPI) since December 1981! Of course, the BLS’s methodology for measuring the Consumer Price Index has changed…
While old and new crop feed prices soar to historic prices, hog feeding margins have stayed reasonably strong. The latest estimates for hog feeding margins from IA State University shows an estimated return for February at a 6-month high of $12/head, which was $2 more than a year ago. Worth noting is that these margins…
Minor feed grain markets in the US and elsewhere have been in longer-term bull trend amid tight supplies. NASS’s planting intentions report, along with likely acreage matrixes in Canada and Europe, suggest that minor feed grain markets oats, barley and sorghum will stay extremely tight in 2022/23 – even assuming normal weather. This is important…
USDA followed CONAB in raising Brazilian acreage and yield slightly, with total Brazilian corn production now pegged at 116 MMTs, vs. 114 in March. Argentine corn was left unchanged. USDA continues its measured approach in adjusting South American production estimates, but there’s little doubt a downward revision MMTs is needed. Argentine crop ratings this week…
Brazil’s national crop forecasting agency CONAB released its April crop report Thursday morning. It’s the first month this year that CONAB’s release has been in front of the USDA, which is likely to provide some guidance in Friday’s lockup and WASDE crop estimates. CONAB’s estimate for the total crop area increased slightly from March but…
