The February International Trade report showed total soybean exports for December at 298 Mil Bu or 8.5 Mil Bu over the monthly inspections report. The Sep-Dec soybean export pace was the 2nd largest on record, but still 404 Mil Bu (22%) behind last year. All the September-December export decline was due to slower shipments to…
The North African wheat crop is in trouble! The attached graphic shows percent of normal precip there since Dec 1, with major wheat producing regions highlighted. Most concerning is that key wheat area of Morocco – the region’s second largest producing country – has seen zero/near zero rainfall in the last 60 days. And complete…
The latest estimate from the USDA for Indonesian palm oil production projects 2021/22 output at 44.5 MMTs. This would be a 1 MMT increase over last year and a record large production total. The chart plots annual production since 2000. The chart shows that, for a number of reasons, year-to-year changes in production has primarily…
AgResource projects 2021/22 South American corn production at 154 MMTs, down another 19 MMTs from the USDA’s estimate in Jan and down an incredible 23 MMTs (905 Mil Bu) from initial estimates in early winter. Note too that ARC holds a downward bias to this figure as lengthy and unwanted dryness is expected to return…
AgResource’s updated soybean crop production estimates for 2021/22 reflect significant losses. AgResource estimates the Brazilian soybean crop at 125 MMTs, down from 138 MMTs last year, the Argentine crop at 41 MMTs versus 46.2 MMTs a year ago, the Paraguay crop is estimated at 5.0 MMTs compared to 9.9 MMTs last year, while other South…
