Agricultural futures markets were mixed on Friday following the midday release of the USDA’s May World Agricultural Supply and Demand Estimates. For the first time, production and usage data for the 2023/24 marketing year was shared. This highlighted the fact that corn and soybean stocks for 2023/24 are anticipated to increase as rapid planting progresses. US wheat futures saw an upturn after the USDA forecast that global and domestic supplies are expected to dwindle during 2023/24 compared to 2022/23. As of now, there is an expectation for higher ending stocks of wheat, corn, and soybeans in 2022/23, likely contributing to a bearish mood among near-term contracts.
According to the USDA, US soybean ending stocks are expected to grow from 215 million bushels to 335 million in 2023/24, surpassing the highest level since 2019/2020. Additionally, the USDA forecast global new crop soybean ending stocks to be 122 million mt, higher than the 101 million mt…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...