CONAB’s June crop report did not offer any surprises. Harvest across the major producing regions of the country was wrapped up months ago, and changes to the yield and production estimates have been limited to tweaking. Once again, CONAB slightly increased its soybean area estimate by 66,600 hectares. Compared to January, the harvested area is…
The June International Trade report showed that US exporters shipped 134 Mil Bu of soybeans in April. This was 84 Mil Bu more than a year ago, 16 Mil Bu more than the FGIS monthly Export Inspections report, and a record large April export rate. It was also the most significant difference between April exports…
World wheat futures have recovered swiftly as odds that a humanitarian food corridor is created dwindle further following Russian attacks over the weekend. The market must again assume Ukrainian exports will be minimal until conflict ends, which very likely includes the entirety of the 2022/23 crop year. Additionally, Egypt’s tender result last week confirmed Russian…
Enrollment in Prevent Plant program will be mostly confined to the Northern Plains and NW Midwest, where unwanted rainfall and cool temps hindered seeding progress into late May. ARC maintains that final US corn planted area will be trimmed 1 Mil acres, but it’s spring wheat that will be most negatively impacted. The graphic shows…
US food inflation rates have been relatively stable since the 1980s – holding between 2-4%. There have been years like 1989-90 and 2008 when food inflation rates rose above 5%. But those were 1-2 year events that were quickly solved. US food inflation reached an all-time low in 2016 of 0.3% and has risen for…
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