In its first forecasts for soybeans in MY 2012/13, USDA predicted a very tight supply/demand situation. It is predicting record U.S. soybean exports in 2012/13 and ending stocks of only 145 million bushels (3.95 MMT) on 31 August 2013. That would be only a 16.1-day ending supply. And, based on a near-record yield of 43.9 bushels/acre (2.95 MT/hectare), it is forecasting a record season-average soybean price for the next marketing year of $13/bushel.Other highlights of today report include: MY 2011/12
USDA raised its forecast for U.S. soybean exports in 2011/12 by 25 million bushels to 1.315 billion bushels. The domestic soybean crush volume was increased by 15 million bushels to 1.63 billion bushels. As a result, ending soybean stocks...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
