As has been noted, USDA will release its 2018 planting intentions estimates on 30 March at noon (EDT), which will be the first ones for the year that are based on actual producer surveys. Those surveys, usually compiled from over 80,000 farmer responses, were completed during the first two weeks of March. USDA then uses them in conjunction with other historical data to produce the actual report estimates. The table below compares actual 2017 planted acreage with the USDA Outlook Forum numbers released in February and the trade guesses for this week’s report.
The markets will first look at the corn number. The guess range is 87.5-91 million acres, and 88.5 million acres were used in last week’s analysis of the 2018/19 U.S. cor...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
