May WASDE Soy Highlights Today USDA released its May WASDE report, which includes its first forecasts for MY 2018/19. While almost certain to vary from what actually will occur, they do provide a better understanding of USDA analysts’ perspective. First, following are key changes in USDA estimates for MY 2017/18:
The U.S. soybean crush volume was increased by 20 million bushels to 1.99 billion bushels (54.16 MMT) based on continued large monthly output. U.S. soybean ending stocks were reduced by 20 million bushels to 530 million bushels (14.43 MMT). U.S. soymeal exports were raised from 11.34 MMT to 11.52 MMT. U.S. soyoil exports were increased from 0.91 MMT to 1.04 MMT based on recent large sales. U.S. domestic soyoil u...
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...
