Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answers, “big” is very big and in some cases bigger than ever before. For example:
NASS’s national average corn yield estimate is 181.8 BPA which is about 1.5 BPA higher than the average trade guess and a new record by a fair margin.
The national average soybean yield is put at a record 53.3 BPA. This is about 1.5 BPA above the average trade guess and even tops the highest trade guess reported by wire services.
U.S. corn pro...
What You Need to Know Today: Funds remain in control of the market, which means broadly bearish trade for the ag sector. Monday’s massive corn export sale to Mexico helped trigger some short covering and a bit of other end-user buying in corn, which could help stabilize the market. Wheat...
With less than 24 hours until Election Day, control of the Senate remains a wild card. Republicans and Democrats alike say they are poised to win control of the chamber in the new Congress that starts in January 2027. The House of Representatives is more of a lost cause for continued Republican...
Key Takeaways: U.S. hog and pork prices have declined sharply, with December lean hog futures ending October at $58.875/cwt and the pork cutout reaching its lowest level since January 2021. Seasonal increases in hog slaughter and pork production have contributed to price weakness, although the...
