Agri Blog

USDA WASDE AUG 12 2024USDA JUL ESTAVG of ESTRange of ESTUSDA JUN ESTCorn Production15.12414.920-15.30015.100Yield182.200180.1-184.0181.000Harvested AreaN/AN/A83.400U.S. Ending Stocks 23/241.8761.825-1.9541.877U.S. Ending Stocks 24/252.1191.897-2.3002.097World Ending...

Grains:- Brazil's soybean harvest 7% ahead of last year's pace- Vietnam's July coffee exports down 35% year-over-year- Cotton global surplus reduced from 1.05 million tonnes to 760,000 tonnes Cattle:- Cattle slaughter down 833,153 head year-to-date- Choice beef prices...

Grains: North Dakota spring wheat yields pegged at 54.5 bushels per acre, the highest yields recorded on the tour since 1992 USDA July forecast for North Dakota wheat yields at 56 bushels per acre, a record September corn struggled to trade at or above the $4.10 level...

Grains: Corn trading between 390 and 410 cents per bushel Soybeans trading between 1030 and 1085 cents per bushel Wheat near-term resistance at $6 per bushel, contract low at 575 cents per bushel Cattle: Steer carcass weights up 31.9 pounds from a year ago Beef...

Cattle/Livestock:- Cattle slaughter last week was down 3,000 head from the previous week and 7,000 head from the same period a year ago- Choice beef dropped $0.39 and Select beef dropped $0.47, with the Choice-Select spread at $15.11- Cash cattle prices averaged...

Corn: Prices up $0.02-$0.03 Sept-24 peaked at $4, support at $3.90 Dec-24 trading between 4.08 1/4 and 413 1/4 Ethanol production increased to 1,106 thousand barrels per day (tbd), up 3.4% year-over-year 110.8 million bushels of corn used for ethanol, or 15.8 million...

Grains: Corn crop rated 68% good/excellent, unchanged from last week Soybean crop rated 68% good/excellent, unchanged from last week US soybean yield forecast at over 53 bushels per acre, vs USDA 52 bushels Spring wheat crop 77% good/excellent, up 2% from previous...

Livestock:- Cattle slaughter: 601,000 head, down 31,000 from a year ago- Hog slaughter: 2,386,000 head, up 1.1% from a year ago Cotton:- US production: 17 million bales, up from 16 million last month but below 17.6 million expected- US ending stocks: 5.3 million...

Corn: Strong corn usage - biggest surprise in today's report Old crop: Stocks: 1.877 billion bushels (down 145 million from June, 165 million below expectations) Usage increases: Feed: up 75 million bushels Export: up 75 million bushels 2024 Production: Total: 15.1...

Natural Gas:- Gas storage up 65 BCF from previous week, 556 BCF total- Storage up 9.7% from a year ago and 18.7% above 5-year average Cotton:- 18% of crop in drought area as of July 11, up from 16% two weeks ago and 15% a year ago- USDA expected to forecast 17.6...