Pro Farmer Analysis
Hot and dry conditions have eroded yield potential in southern Brazil, Argentina and Paraguay. . .
A major trader of Russian wheat, Swiss-based Solaris is confident China will become a big buyer and seeks to boost exports . . .
Minnesota Soybean Processors, a farmer cooperative, and CGB Enterprises Inc. plan to build a crushing plant that will process 42.5 million bu. per year near Casselton, North Dakota.
Citing better-than-expected yields, the Buenos Aires Grain Exchange raised its Argentine wheat production estimate.
As is our tradition, Pro Farmer named our ag story, person and event of the year.
The cargo pileup at West Coast ports had a bigger impact on farm exports from California than the China/U.S. trade war, say three economists.
Hogs & Pigs Report: Herd contraction greater than expected
USDA’s Cold Storage Report showed U.S. beef stocks rose contra-seasonally in November.
Supplies of natural gas are tight and there is growing doubt about reserve fuel stocks.
Ukraine might decide in mid-January to limit milling wheat exports for the rest of the 2021-22 marketing year to protect domestic supplies and keep prices from rising. . .
Soybean futures rallied for a seventh consecutive session behind strength in soymeal and expectations dryness will cut soybean yield potential in Argentina and Brazil.
Potash prices will likely remain high into the new year given U.S. sanctions against Belarus Potash Company (BPC).
USDA continues to increase its forecasts for food price inflation for various grocery store items, led by beef and pork prices. . .
Corn futures closed at the highest levels in over six months on support from rallying soybeans and wheat, and concerns persistent dryness in parts of South America will trim crop potential.
Hogs & Pigs Report expected to show more herd contraction
USDA overpaid corn farmers in 2019 by around $3 billion for impacts from former President Donald Trump’s trade policies, in part because the agency over-estimated the value of lost export business. . .
EPA’s proposed biofuels blending levels announced Dec. 7 under the Renewable Fuel Standard (RFS) for 2020, 2021 and 2022 have now been published in the Federal Register.
The surging spot shipping rates of the past year are set to translate into steep price increases in 2022, the Wall Street Journal writes. . .
Russian and Ukrainian farmers are expected to harvest 110.4 MMT of wheat in 2022, 2.6 MMT more than previously forecast by Black Sea region ag consulting firm SovEcon.
BSE reported in Canada, market access likely ‘unaffected’
Some rains fell on southern Brazil over the weekend, but they weren’t enough to stop net drying in the region.
Russia plans to set its grain export quota at 11 MMT, including 8 MMT of wheat, from Feb. 15-June 30, 2022 . . .
The NCGA and state organizations sent a letter asking Mosaic executives to “voluntarily withdraw your countervailing duties and allow critical supply back into the U.S. . . . “
South American weather pattern to remain about the same
Unica expects more sugarcane to be allocated to ethanol production – 55.13% this year versus 53.93% last year.
Based on a Reuters report, IHS Markit expects 2022 U.S. corn acres to slide to 91.578 million acres next year.
European Central Bank announces wind down of bond purchase program