Global soybean demand is strong, but not strong enough to handle a 30 MMT increase in combined North and South American soybean production in the same calendar year without forcing soybean prices much lower. A Larger Soybean Crop, But an Equal Increase in Demand To practically no one's surprise, USDA on Friday raised its estimate for the U.S. soybean crop by 31 million bushels (843,000 MT) to 3.289 billion bushels (89.52 MMT). If there was a surprise, it was that the increase was not even greater as farmers across much of the soybean belt reported surprising high yields following one of the worst Augusts in recent history.Despite the increase in U.S. soybean production, USDA did not boost its forecast for ending stocks of 150 million bush...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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Accountability and a comprehensive approach to export programming
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