Entering the fourth week of the current round of state-reserved corn auctions, total sales of over 10 MMT have exceeded market expectations. Meanwhile, there are two factors that are likely continuing to push up those sales, at least in the short run.
Oilseeds Soymeal Inventories Soar Past 1 MMT Threshold For the second consecutive week, China’s estimated soymeal inventory blew away our monthly forecast that it would reach the 1 MMT threshold toward the end of May or the beginning of June. Because of surges across all regions, however, a weekly increase of 217,800 MT (+23.9 percent) pushed the total to 1,128,800 MT as of 12 May. This is the first time the inventory has surpassed 1 MMT since the beginning of August 2016. E...
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...
