Old crop Brazilian corn production was raised another 2 MMTs to a massive 135 MMTs. However, global production in crop year 22/23 still fell 9 MMTs short of consumption. USDA trimmed global production in 23/24 by 11 MMTs due to lower projected yields in the US and Europe, but a modest build in stocks next…
ARC’s research maintains that the global wheat market is subject to sizable supply risks as droughts continue in Canada and Argentina and drought begins to develop in Australia. Black Sea trade execution risks also remain elevated. But a new threat to exporter stocks is emerging in the form of potential largescale Indian imports. The potential…
The US beef export pace is restricted by tight US supplies and record prices. June exports fell 14% from last year and were the 2nd lowest since 2017. Compared to last year, export increases were to Mexico, Canada, and Taiwan, but those gains were more than offset by decreases to S Korea, Japan, and China.…
The August International Trade report showed that US soybean exports in June totaled 30.5 Mil Bu, marking another month of sizable year-over-year declines due to a record-large Brazilian harvest. Compared to a year ago, the export figure was 52 Mil Bu smaller but was still 2.8 Mil Bu larger than what was reported in the…
In the annual USDA Land Values report released last week, NASS reported that the national average farm real estate value in 2023 increased by $280/acres (7%) from 2022 to $4,080/acre. NASS defines a farm as any establishment with $1,000 or more in agriculture product sales. Farm real estate is considered all land, buildings, and homes.…
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