ARC estimates 2022/23 US winter wheat seedings at 32.6 Mil Acres, down just over 1 Mil from last year. RMA data as of early January continues to support this reduction, with major area loss due across the Southern Plains – Kansas specifically. KS winter wheat seedings alone are forecast to drop 750,000 acres to 6.55…
Pork exports in November were 40 Mil Lbs over October at a 6-month high of 581 Mil Lbs. However, the figure was still 8% less than a year ago. The pork export story in November is similar to the rest of the year, with the main feature being the falling export rate to China. November…
The January International Trade report showed that US soybean exports rose slightly from October, totaling 391 Mil Bu. This was 8.5 Mil Bu short of last year, but 7.8 Mil Bu over the FGIS monthly inspection total. The November figure puts first quarter soybean exports at 857 Mil Bu, 235 Mil Bu, or 22% less…
The USDA’s Economic Research Service published estimates for the 2022/23 crop costs of production in mid-December. However, the USDA’s methodology for estimating costs likely did not fully capture the changes that occurred through the fall months in either the fertilizer or chemical markets. AgResource has posted estimates in the table above to better reflect expected…
AgResource estimates Dec 1 US wheat stocks at 1,335 Mil Bu, down 368 Mil Bu from last year, the lowest since 2007. Total Sep-Nov consumption is pegged at 470 Mil Bu, down a modest 13 Mil Bu from last year due to weak export disappearance. However, domestic consumption remains strong, while imports have been weak…
