Not much inspiration was expected from today’s USDA reports, and that’s exactly what they delivered. However, there are a few important factors to keep in mind about today's numbers.Not much inspiration was expected from today’s USDA reports, and that’s exactly what they delivered. There were only minor adjustments in the old crop and new crop corn, soybean and wheat ending supply estimates as well as the winter wheat production number (see below).Following are several important factors to keep in mind about today’s numbers:
The 2017/18 corn and soybean yield estimates will not be based on actual crop surveys, test plots, etc. until the August report. These yield estimates are a “best guess” based on early conditions. The 2017/18 produc...
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...
