Reuters – Chicago-traded wheat futures have rallied to near six-year highs on strong global demand and unfavourable planting conditions in some major exporters, despite the expectation for record-large stockpiles by mid-2021. Most active CBOT wheat hit US$6.38-1/4 per bushel on Oct. 20, the contract’s highest since Dec. 24, 2014. That is consistent with rising international
Comment: Wheat market looks beyond record stocks
U.S. and Russian crop woes are causing wheat prices to rally despite expected stockpiles
Comment: China making good on Phase 1 trade deal
U.S. farm exports to China hit new August record thanks to soybeans
U.S. agricultural exports to China had a sluggish start to 2020 relative to the lofty expectations set forth by the Phase 1 trade agreement, but the August value soared substantially over that of the prior months owing to strong soybean shipments. U.S. cotton exports to China hit a 7-1/2-year high in August, while corn shipments
Comment: Interpreting bin-busting yield outlooks for the U.S. corn crop
Lower acres look to be offset by higher production in much of the Corn Belt
Reuters – The corn supply outlook in the United States got much tighter when it was revealed that farmers this year significantly reduced planted acres from their original plan, but unprecedented yields could load back up the balance sheet. The U.S. Department of Agriculture unveiled its first survey-based yield outlook August 12, and at press
China’s U.S. soy bookings hit six-year highs
Average sales seen to other destinations
China has returned in full force to the U.S. soybean market following the trade dispute that began two years ago, giving American exporters hope that the upcoming shipping season will be their most successful in three years. The Phase 1 trade deal signed at the beginning of this year implied China must book record or
Comment: U.S. soy exports to China at 16-year lows so far in 2020
With prices very competitive however, lofty total-year sales forecasts may still be attainable
Reuters – U.S. soybean exports had a dismal April performance and possibly an even worse showing in May as shipments to China remain historically low, but corn exports hit a one-year high in April and improved on those volumes last month. Soybean sales were relatively strong in May and that could continue since the U.S.
Fading U.S. soybean exports threaten to expand stockpiles
There’s little sign China will be an enthusiastic buyer in the coming months
Reuters – It might take some extraordinary circumstances for U.S. soybean shipments to approach the government’s full-year target. Without an extended turnaround in export demand, U.S. soybean stockpiles could swell to the second-highest levels on record by September. China is likely the only country that could provide the needed lift to U.S. soybeans, but given
Comment: U.S. farmers ramp up corn, soybean acres
The trend comes amid historically low futures prices
Reuters – New-crop corn and soybean futures on the Chicago Board of Trade have reached the lowest March levels in more than a decade with just a few weeks until the kickoff of the U.S. planting season. But despite the low prices, U.S. farmers are expected to boost acreage significantly over last year’s levels, which
Weak currency supports Brazilian selling
The weak real is seeing real returns for Brazilian growers rising as markets fall
Reuters – Brazil might not be harvesting soybeans at a record pace, but farmers there are certainly selling their crops at a much quicker clip than usual due to the weak currency and uncertainty over how the U.S.-China trade deal will affect their business. Brazil typically ships more than half of its annual soybean exports
U.S. corn exports falter, soybean business could meet same fate
Fort Collins | Reuters – It is no secret that overseas demand for U.S. corn has been downright terrible as of late, and relief does not seem likely in the immediate term as purchase commitments remain dismal. Forward sales for U.S. soybeans are nothing to brag about either, but soy exporters have enjoyed more success recently than
Corn, soy harvest advances, except for in North Dakota: Braun
Fort Collins | Reuters – The U.S. Crop Watch growers report decent progression of the corn and soybean harvests last week, and the overall sentiment toward the crop is unchanged on the week. However, parts of North Dakota continue to struggle in the wet conditions, which are preventing harvest equipment from entering the fields. Four
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