Reduced Corn and Soybean Acreage Sends Grains Higher
The USDA released their highly anticipated June Acreage and Quarterly Grain Stocks Reports this afternoon. The USDA pegged corn and soybean acreage at 175.8 million acres versus its March estimate of 180.5 million. Corn acreage was just over 92 million, well below the 96.99 million from the USDA March estimate. Soybean acreage is seen at 83.82 million versus the March estimate of 83.51 million. Somewhere along the way, the Ag community seems to have misplaced about five million acres of production.
The reduction in corn planting pushed December corn futures 15.75 cents per bushel higher. The acreage reduction could lead to a balance sheet decline of close to a half bushel per acre. The weekly…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...