The continuing decline in wheat, corn and soybean prices is good news for the world’s consumers, but it is very bad news for the world’s producers. Hardly a day has gone by recently without a reminder that world crop production prospects for 2019 are much better than last year. World consumption of virtually every agricultural crop continues to set records every year. Annual soybean consumption increases have been especially significant, led of course by China.
The assumption a year ago was that Chinese soybean imports would exceed 100 MMT this marketing year. The latest USDA estimate is significantly lower at 88 MMT, but that could still be too large as the African swine fever (ASF) problem is worsening instead of improving...
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...
