This week Dr. Scott Irwin of the University of Illinois Extension Service has been running commentary on Twitter regarding the delays in getting the U.S. corn and soybean crops planted. Tweets are brief by nature, and so are the following observations:
He started talking about this spring planting season turning into a “Black Swan” event for corn sometime in the last two weeks. His data shows this season of planting delays is already historic and, based on the latest weather forecast, destined to become even more so. The previous statement means there are no analog years for comparison. His research suggests that analysts should start to consider the possibility that there could be 5 million or even 10 million corn acres i...
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...
