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USDA released their latest crop production forecast on Tuesday. Their November report projected year-over-year increases for corn, soybeans, and cotton in the United States based on conditions as of November 1, 2021.
USDA released their latest Weekly Export Sales report for the week ending October 14, 2021. Exports for the week were generally lower except for corn, soybeans, cotton, and meats.
Although exports have been strong this marketing year, sales and exports for cotton are lower after futures prices in New York hit their highest level in 10 years.
USDA’s National Agricultural Statistics Service released their October Crop Production Report on Tuesday, based on conditions as of October 1, 2021. Researchers believe the harvest for corn and soybeans will be greater than last year’s production, while the final U.S. cotton crop is expected to be smaller.
Agricultural economists at the University of Illinois are trying to determine the potential for lower harvest time prices on corn and soybean futures contracts.
For wheat, Net sales were down noticeably from the previous week, but up 55 percent from the prior 4-week average on increases primarily for Mexico, Taiwan, and Japan.
According to the Foreign Agriculture Service at USDA, the United States is Vietnam’s second-largest supplier of agricultural goods, following China.
Soybean production in Brazil over the past 30 years has increased almost ninefold according to data from the National Supply Company and presented by the University of Illinois’ FarmDoc.
Once every year, USDA releases their estimates on prospective plantings in the United States. For 2021, that report places the expectations for soybean plantings at 91.1 million acres, a 5 percent increase over last year.
In 2016, corn and soybean producers accounted for about 93 percent of future and options contracts used by U.S. farmers and 60 percent of all production covered by marketing contracts.
Expanded soybean exports, led in part by increased Chinese buying under the United States-China Phase One trade deal, are tightening the availability of U.S. soybeans the current marketing year which ends in August.
Exports for last week eclipsed marketing year highs for corn and sorghum while sales increased for all major commodities except soybeans.
Record large soybean acreage is expected in the United States this year if grower intentions materialize according to Allendale.
USDA released their latest Weekly Export Sales Report on Friday, a day later than normal due to the Martin Luther King, Jr. Holiday on Monday.
Last week was an active one for export sellers as all major commodities, except wheat, experienced an uptick from foreign buyers.
USDA end of year stocks estimate for all major crops is fairly easy to report: all are lower than in 2019. Specifically, corn stocks are slightly lower while wheat stocks are down 9 percent, soybeans are off 10 percent and sorghum stocks are down 12 percent as of December 1.
According to the Foreign Ag Service, U.S. wheat sales were up 38 percent from the previous week (616,500 metric tons) on purchase from Mexico, Japan, and Thailand.
The outlook for U.S. wheat this month is for slightly smaller supplies, unchanged domestic use, higher exports, and lower ending stocks.
USDA released their latest Weekly Export Sales Report on Thursday morning with corn exports reaching a marketing-year high and soybean sales hitting a marketing-year low.
The soybean industry has welcomed back a familiar face as the former CEO of the American Soybean Association returned to work for the commodity group last week.
The Foreign Agriculture Service released their latest Weekly Export Sales report on Friday, one day later than normal due to the Veteran’s Day Federal holiday on Wednesday.
USDA released their monthly Crop Report on Tuesday, providing a late-season glance at the projected size of the corn, cotton and soybean crops.
Corn and soybean production in the United States is expected to increase according to the latest Crop Production report issued Friday by the National Agricultural Statistics Service.
Brazilian farmers are on a trajectory to have the highest soybean return in history for the 2019/20 marketing year.
Corn and soybean production is up from 2019, according to the Crop Production report issued Friday by USDA’s National Agricultural Statistics Service.
Producers of the top five field crops in the United States have struggled to cover total costs of production over the past decade.
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