There are several differences between WPI's wheat production estimates by country and USDA's 12 July numbers. The net result, though, is a significant shift from last year that will have implications going forward.Following the previous discussion here regarding the likelihood of smaller supplies among the world’s major wheat exporters in MY 2017/18 (see Ag Perspectives, 22 May 2017), the table below shows our thoughts about the change in their production levels as of today:Note that WPI’s production estimates by country don’t match up with USDA numbers of 12 July. Following are the differences:
WPI thinks USDA’s U.S. spring wheat estimate is too high by at least 1.5 MMT. There was no change in harvested acres, and significant acreage in...
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...
