Today’s USDA supply and demand estimates increased old crop ending stocks of U.S. corn, wheat and soybeans. No adjustments were made to the 2019 corn and soybean planted acres numbers, and the yield estimates for those crops are very close to record-high levels.
The biggest surprise in USDA’s production estimates for the six major wheat-exporting countries wasn’t that prospects look much better than last year’s drought-reduced crops, it was the magnitude of the forecast increase for the EU at 16.8 MMT. That seems aggressive today. While still very early, conditions also remain very dry across most of West Australia and the Canadian Prairies. As a result, wheat seeding has barely gotten underway.
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The corn and soy complex closed higher, with the wheat market mixed, as winter wheat closed up but spring wheat and livestock ended lower. Part of the strength for corn and soybeans may have been a weather premium, as crop planting has started out fast but warm weather has been slow to develop...
Real GDP grew at a 2 percent annual rate in the first quarter of 2026, slightly below the consensus expectation of 2.3 percent but above the 0.5 percent growth in Q4 2025. The GDP number matches the average annualized pace of growth since the peak back in late 2007, right before the Financial P...
Reflect for a moment on what you eat. There is a lot of advice out there in the ether about what you should eat, but really, what do you currently eat and how much? The good people at the USDA have some data for you, to help you answer that question. USDA says that we eat quite a bit of meat. L...
