Entering the fourth week of the current round of state-reserved corn auctions, total sales of over 10 MMT have exceeded market expectations. Meanwhile, there are two factors that are likely continuing to push up those sales, at least in the short run.
Oilseeds Soymeal Inventories Soar Past 1 MMT Threshold For the second consecutive week, China’s estimated soymeal inventory blew away our monthly forecast that it would reach the 1 MMT threshold toward the end of May or the beginning of June. Because of surges across all regions, however, a weekly increase of 217,800 MT (+23.9 percent) pushed the total to 1,128,800 MT as of 12 May. This is the first time the inventory has surpassed 1 MMT since the beginning of August 2016. E...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
