WPI previously took an early peek at the potential 2018/19 U.S. corn outlook (see Ag Perspectives, 19 March) and estimated U.S. farmers would plant a total 88.5 million acres this spring, which was below most other estimates at the time. The major surprise in last Thursday’s USDA planting intentions estimate was that the planted area came in at 88 million acres. Having indicated we’d update WPI’s 2018/19 numbers once USDA’s acreage estimates were released, please see that revision in the following table along with associated changes in production:
Following are some key factors to keep in mind:
The U.S. corn acreage number will change. Some argue the 88-million-acre estimate is too small. That might be true, bu...
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...
