Reuters – Ukraine’s corn exports basically ground to a halt several weeks ago when Russia invaded the country, leading to the closure of its critical seaports. While that is causing a global supply crunch in the near term, it is also leading to an unprecedented buildup of stocks in the country. That could leave room
Comment: Export losses give Ukraine leeway in its upcoming corn harvest
Carry-over resulting from closed ports means there’s some cushion in supplies
Cold spring weather prevents early U.S. planting
Reuters’ Crop Watch will follow corn and soy fields in nine states
Reuters – It is too early yet for U.S. corn and soybean planting to be in full swing, but Crop Watch producers will certainly not get an early start this year due to cold, and in some cases, wet conditions. The only Crop Watch farmer who has begun his planting efforts is in Kansas, owing
U.S. winter wheat health among worst ever, yield prospects dicey
Reuters – The U.S. winter wheat crop has emerged from dormancy in miserable condition following a historically dry winter in key production states, almost guaranteeing that the harvest will not rank among the country’s better ones. The timing is not great since tensions in the wheat market are running high. Global wheat prices hit record
Analysts blow U.S. corn acreage predictions again
The trade could redeem itself in June when the next estimates drop
Reuters – U.S. planting intentions kept their unpredictable reputation alive March 30, as corn acres fell outside the range of analyst estimates for a fourth consecutive year. The trade reversed its overestimation trend on soybean area, but the miss was still substantial. Market participants have recently come a little closer to the reported corn and
Concerns rise over Black Sea spring crops in wartime
Shipments are halted and spring planting is in question
Reuters – The stoppage of grain exports out of Ukraine was confirmed February 28, as the country said all ports will be closed until the end of the Russian invasion, though there is a chance that supplies for the next season out of both Ukraine and Russia could also be in jeopardy pending the outcome
Comment: China lightens interest in pork imports but loads up on beef
Falling pork prices in China have quelled demand for imports
Reuters – U.S. pork trade with China made a big breakthrough two years ago as the Chinese hog herd was thinned by disease and political relations began to mend, though U.S. exports to the top pork consumer have not performed as well this year relative to those from other suppliers. China’s pork production is expected
Slow U.S. corn shipments could pressure supply forecasts
Reuters – The United States has already secured a record corn export campaign for the nearly concluded season, but the shipments are unlikely to match the government’s current forecast because the pace has recently been too slow. Disappointing export inspections last week – a marketing year low – might be an indication that the U.S.
Speculators’ bullish corn and soy views fall to a 2021 low
Reuters – Chicago-traded corn and soybean futures ended May more than 10 per cent off the month’s highs, and speculators had established their least bullish views of the year. In the week ended May 25, money managers reduced their net long position in CBOT corn futures and options to 268,091 contracts from 291,025 a week
Further swine fever outbreaks threaten slow growth in China’s soy demand
Market watchers now worry the disease’s latest impact could be worse than it appears
China is taking in record amounts of soybeans from the U.S. and Brazil as its hog population recovers from a deadly disease that began nearly three years ago, but import expansion into the next marketing year might be minimal. Additionally, China continues to report new outbreaks of African swine fever (ASF). Many market watchers are
Comment: Direct payments to U.S. farmers may dry up under Biden administration
The president-elect seems lukewarm at best towards strings-free payments to farmers
Reuters – U.S. farmers will likely see a familiar face at the helm of the Department of Agriculture come January, but the lofty government assistance programs they have got used to could be a thing of the past. President-elect Joe Biden has nominated Tom Vilsack as agriculture secretary, a move seen as safe but welcoming