Markets - General
Watch analysis of Tuesday’s USDA reports with AgriTalk’s Chip Flory, USDA Chief Economist Seth Meyer and others.
This month’s 2020/21 U.S. corn outlook is for lower production, reduced corn used for ethanol, smaller feed and residual use and exports, and decreased ending stocks.
Final 2020 crop numbers from USDA put the overall corn crop at 14.2 billion bushels and soybeans at 4.14 billion bushels, both below trade expectations.
U.S. soybean and corn futures climbed to fresh 6-1/2 year highs on Wednesday, as worries about dry weather hurting Argentine crops attracted speculative buyers, analysts said.
As China builds its domestic stocks of protein like pork, there are fears the country may view its supplies as ample in the second half of 2021. That could put more pressure on domestic demand to carry prices.
2020 ended on a high note for soybeans as prices soared past $13, so will demand be enough to push prices even higher in the New Year? Dan Basse and Arlan Suderman explore 2021.
The latest COVID-19 relief bill includes additional purchases of dairy. News sent futures price soaring Tuesday. One dairy analyst says dairy farmers may now be looking at the best prices they’ve seen since 2014.
Unprecedented corn price momentum this fall was driven largely by demand. As analysts focus on 2021, Dan Basse of AgResource Company explains why the stage may be set for an ag bull market to drive prices even higher.
USDA predicts 89 million soybean acres in 2021. Some analysts believe that number could go even higher.
Corn, wheat and soybeans saw a price pop this week on news China made a big purchase of U.S. corn. USDA confirmed China bought 686,000 MT of corn for delivery to China, 371,000 of which was in purchases of old crop.