USDA’s 1 March quarterly stocks and initial planting intentions reports have a history of providing market-moving surprises, and today’s releases add to that history. The corn and soybean stocks had been expected to be record large, and they were. Along with those of wheat, they all exceeded the average trade guesses as reported by newswire services. For corn and soybeans, the difference was substantial at 173 million bushels and 67 million bushels, respectively. Meanwhile, wheat’s stocks were less than 10 million bushels more than expected. By contrast, grain sorghum stocks were considerably smaller than expected, reflecting how tight that balance sheet is becoming.
Stocks of corn and soybeans were surprisingly and bea...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
What You Need to Know Today: The surprises from the USDA’s Acreage report were a sharp reduction in winter wheat area from the March Prospective Plantings estimates and a larger-than-expected increase in corn area. The Grain Stocks report offered relatively few surprises, but quarterly d...
On Monday, the Trump Administration suspended the countervailing duties (CVDs) on phosphate fertilizer imports from Morocco via Executive Order. The CVDs were imposed in 2021 by the Biden Administration and were subject to a routine five-year sunset review. According to the Agricultural and Foo...
