Traders Drive Prices Higher Despite Record Yield Forecasts
On Wednesday, the United States Department of Agriculture (USDA) released its monthly World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports. The reports contained the first survey-based estimates for U.S. corn and soybean production, but unlike prior years, they did not provide objective yield data gathered from USDA’s test plots.
USDA projected the 2020/21 U.S. corn yield at a record of 181.8 bushels per acre, which was above analysts’ expectations that ranged from 177.5 to 183.3 bushels and averaged 180.5 bushels. USDA’s forecast 2020/21 U.S. soybean yield of 53.3 bushels per acre, was also a record and well above analysts’ expectations that ranged from 49.8 to 53 bushels and averaged 51.2 bushels.
Despite the larger-than-expected increases in U.S. crop production, both markets rallied following the release of…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
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Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
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December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...