The May export data is in. Pork export volume was the third highest on record behind March 2020 and March 2021. Beef export volume set a historic record (also beating the previous high mark of March 2021), and for the third consecutive month the beef export value set a record. To date, beef exports are running 16 percent above the previous five-year average.
Red meat exports have benefitted in the long game that dates back almost two decades. Exports to Korea set a record in May at 29,403 MT, and for January to May were 121,881 MT valued at $912 million, which now makes Korea the leading value market for U.S. beef. In 2008, there were street protests about letting U.S. beef into the country after the BSE detection in 2003 –...
What You Need to Know Today: Traders are increasingly focused on next Wednesday’s August WASDE report, with corn and soybean yield estimates expected to drive the next major move in grain markets. Recent crop condition declines and late-July heat have increased uncertainty around USDA&rs...
Yesterday the Senate Agriculture Committee held its markup of the “skinny” farm bill, and it was derailed over Democratic opposition to plans for imposing food stamp costs on state governments. The Democrats pushed back on a provision that required states to pick up a larger share o...
Key Takeaways: WPI’s 2025/26 corn export models continue to reflect strong international demand and put the total marketing year volume slightly above USDA’s estimates. Strong old crop corn exports are offset by weaker feed and residual use, leaving ending stocks slightly ele...
