Before USDA’s November 2020 WASDE was released, the grain trade generally expected a mildly bullish report. But there was nothing mild about the November WASDE. It was flat out bullish, possibly the most bullish November WASDE ever if such comparisons were measurable. USDA’s outlook for corn was sharply altered by the following:
The national average corn yield was lowered 2.6 BPA to 175.8 BPA.
The November production estimate is 14.507 billion bu, a reduction of 216 million bu from October. Estimated U.S. corn exports for 2020/21 were raised by a large 325 million bu to 2.650 billion bu, a new record. Lower production and larger exports resulted in estimated ending stocks of 1.7 billion bu, 465 million bu lower than U...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
