S&P Global is the first private firm to issue an acreage planted forecast following USDA’s prediction for the upcoming campaign, but it will not be the last. The annual exercise is riskier this far out from when planting actually occurs because markets can change and farmers have certain flexibilities. Nonetheless, these early forecasts present some notable analyses:
Soybean acres will increase versus 2022, and corn acres decline, but not enough for corn to overtake soybeans. It will be the largest number of acres planted to soybeans since 2018. Acres planted to wheat will be the largest since 2016. Total acres planted to the big three, wheat, corn and soybeans, will be the largest since 2013. If yields are opti...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
