As spring crop ratings plunged again last week and hard red winter wheat protein levels continue to be a concern, issues with wheat production outside of North America are also worsening.
As noted in the most recent crop progress report (see Ag Perspectives, 19 June), spring wheat crop ratings plunged again last week. They should decline again in next Monday’s report after another week with no rain across most of the northern Plains. The only good news was that temperatures were much cooler this week. The driest parts of southern Canada also stayed dry, including the primary durum production region. Yields are falling, but protein content should be high because of the drought stress. The chart below shows the current spring wheat ratings...
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...
