.S. soybean supplies at the end of MY 2019/20 could exceed a record 1 billion bushels. However, the following factors could change that outlook:
A steep reduction in U.S. plantings coupled with a yield problem A continuation and worsening of the dry weather across Brazil A quick end to the China trade dispute and a corresponding sharp increase in U.S. soybean exports to that country
The table below is our first glance at the potential U.S. soybean balance sheet for that marketing year, which includes several key elements. First, there is a 2.1-million-acre reduction from 2018, although some analysts think the decrease could reach 4 million acres. Our hesitance to cut acres that much is based on soybeans’ general profitability...
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...
