Today's USDA reports offered something for everyone, but there were some very significant surprises. The first and most bearish surprise was that U.S. farmers said they would plant 95.9 million acres of corn. The trade was expecting at least 95 million acres, but 95.9 is a big number. There were three bullish surprises in today's numbers:
1 March corn stocks were 141 million bushels below the average trade estimate. This number should mean that corn ending supplies in the current marketing year will drop from 801 million bushels to 650 million or so in the April WASDE. That assumes USDA does not reduce demand going forward (which should be unlikely given the pace of export sales and ethanol production). Ending supplies of fewer than 7...
What You Need to Know Today: Declining crop conditions ratings and shaky results from the Pro Farmer crop tour sent grains sharply higher on Tuesday. The Pro Farmer tour in Ohio pegged the state yield at 180.18 BPA, about 5.5 BPA below the tour’s 2025 estimate. Similarly, the Pro Farmer...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt is the largest importer of Brazilian maize in the first six months of 2026. Egypt imported about 28.4 percent of maize exports, or about 1.7 million MT. Iran was the third-largest importer at 14.5 percent, or 900,000 MT, fol...
Based on a Depression-era statute, President Trump imposed 50 percent tariffs on $20 billion of exports to the U.S., or about 5.2 percent of the $383 billion worth of goods the U.S. imported from Canada in 2025, according to U.S. Census Bureau data. Of that total, about $39.3 billion was agricu...
