The end of the South American monsoon has come earlier than average this year due to La Niña. The drier finish on the Safrinha crops will limit their yield potential.
Since last year, China has been importing record volumes of U.S. corn due to a supply shortage and record domestic prices. But U.S. shipments to the Asian country have been slightly disappointing in recent weeks.
USDA's Chief Economist says the battle for 2021 acreage is on, and it may even bid into specialty crop acres amid strong signals that China plans to continue buying corn and soybeans.
“The trade really wanted to see USDA get more aggressive on increasing corn export demand, especially after all the sales we had seen to China about two weeks ago,”
Traders were expecting bullish numbers from Tuesday’s World Agricultural Supply and Demand Estimates (WASDE), but the projections were even friendlier than anticipated.
Chicago Board of Trade soybean futures surged to their highest prices since March 2018 after the U.S. Department of Agriculture on Friday said inventories will dwindle to a five-year low.
The next mark-moving round of USDA reports will be here on Tuesday, June 30. USDA will release its annual Acreage and quarterly Grain Stocks reports on Tuesday, June 30 at 11 a.m. CDT.
One of the world’s largest supply chains is opening a case-ready beef plant and establishing its own angus supply chain.
CoBank recently released a report about the plant.
Last week it was announced China bought beans, but the country also cancelled a purchase. So, where do exports sit today? Also, how could soybean prices impact the acreage debate? Two analysts and an ag banker weigh in.