There were some significant changes in today's WASDE estimates for the soybean sector, and flooding in a key province of Argentina will likely impact planting intentions there. USDA Boosts U.S. Soy Production and Exports USDA once again surprised most analysts today by boosting its forecast for U.S. 2017 soybean production. The average forecast of analysts queried by Reuters indicated expectation that it would reduce the average yield from 49.4 bushels/acre to 48.8 bushels/acre and lower the crop from 4.381 billion bushels to 4.328 billion bushels. Instead, USDA raised its estimates for the average yield and total crop to 49.9 bushels/acre (3.356 MT/hectare) and 4.431 billion bushels (120.6 MMT), respectively. If realized, production woul...
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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