USDA issued another bearish blow to the corn and soybean markets with its November WASDE. Bob Kohlmeyer delves deeper into the WASDE number and implications (see today’s Common Thread), but USDA did announce a new record-high U.S. corn yield of 175.6 bushels/acre (BPA) as well as the largest ending stocks/use ratio in the past 10 years along with the second-largest soybean ending stocks/use ratio in the same period. The U.S. is hardly the only country swimming in excess grain, however, and USDA increased world wheat, corn, and soybean production while boosting world corn and soybean ending stocks by 1.4 and 1.9 percent, respectively. To say the least, it was a bearish report. Before today’s post-report excitement, the overnight...
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...
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