Uncertainty going into a WASDE has rarely been this large. In a continuing search for clues, the quiver keeps coming up empty. The known metrics of history indicate that the planting date can have an impact on yield, but it is just one variable and not a conclusive one. Looking this time at crop condition, isolating a single variable as the determinant of the final outcome is also problematic. Without doubt, the amount of soybeans and corn rated good to excellent is well below that of recent years (see graph below).
The crop condition reports in August have risen or fallen as the weeks progressed, but the month has generally reflected the final rating. There are of course outliers, though. The 2017 corn crop was rated 62 percent good/ex...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
