US pork exports in October rose to a four-month high of 541 Mil Lbs, but were 8% less than last year. Again, the largest decline in exports was to China, with exports falling to a 30 month low of 50 Mil Lbs, while cumulative exports were just 61% of a year ago. The Chinese export…
The December International Trade Report showed US soybean exports in October amounted to 386 million bushels. This was 42 Mil Bu less than last year’s record-large October rate, but still the 2nd largest on record. The surprise in the data was that the Census Bureau’s count on exports was 8.4 Mil Bu less than the…
Total US cropped area excluding hay, has failed to exceed 260 million acres since 2014. And even during 2012-2014, total US cropped area was capped at 264 Mil acres. This begs the question of whether arable land in the US has peaked? Peak US farmland would be a big deal for commodity markets and land…
Stats Can’s December crop report is viewed as neutral to slightly bearish wheat and bullish canola. Combined major crop production was pegged at 64.1 MMTs. vs. USDA’s projected 63.3 MMTS. Wheat, soybean, and oat production was revised (slightly) higher, while Canada’s canola crop was lowered another 400,000 MTs. Wheat yield was lowered but harvested area…
Following an early season scare, Ukrainian corn yields recovered swiftly. With 85% of the crop gathered, Ukraine’s cumulative corn yield sits at 7.33 tons per hectare (117 bushels per acre), the second highest on record. The USDA must raise 21/22 Ukrainian corn production to 40 MMTs, a record large total which on paper raises the…
