One of the big questions that has not yet been answered during this year’s corn and soybean harvest is how and where farmers will store these record crops. That is particularly interesting across the northern Plains, the Dakotas and western Minnesota. The soybean market is forcing farmers to hold soybeans and move whatever other crops they have, mainly wheat and corn, to make room for them. Among the factors contributing to the problem are the following:
Approximately 75 percent of the soybean exports from the Pacific Northwest (PNW) have historically been shipped to China. China is about the only soybean export outlet for northern Plains soybeans. The trade dispute with China has closed that export market for now, leaving...
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...
