Following are the key estimates from the November 2017 WASDE:
2017’s yield magic continues. USDA/NASS raised its estimated U.S. average corn yield to a record 175.4 bushels/acre (BPA), which is 0.8 BPA higher than last year’s record. Two back-to-back corn yield records is a highly unusual occurrence. It makes us wonder what the result would have been had better weather conditions prevailed last summer. The higher yield on unchanged harvested acres bumped estimated U.S. corn production up to 14.578 billion bushels. Today’s corn production estimate along with stocks carried over from 2016/17 mean that total U.S. corn supplies for 2017/18 are virtually identical with those available last year. This encourag...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
