CHICAGO U.S. farmers, who have spent the last month sifting through damage left by a storm that flooded more than a million acres of crop land, now face a blizzard ahead of planting season.
CHICAGO, April 10 U.S. farmers, who have spent
the last month sifting through damage left by a storm that
flooded more than a million acres of crop land, now face a
blizzard ahead of planting season.
CHICAGO, April 9 The U.S. Agriculture Department
on Tuesday raised its outlook for how much corn will be left in
grain elevators ahead of harvest this year due to falling demand
from the export, feed and residual and ethanol sectors.
CHICAGO Massive supplies of both U.S. corn and soybeans remained in storage bins around the country ahead of spring planting, U.S. Agriculture Department (USDA) data released on Friday showed.
OTTAWA/CHICAGO, March 22 Canada is optimistic it
can make progress this year in talks to persuade China to allow
imports of Canadian canola seed to resume, Prime Minister Justin
Trudeau said on Friday, even as tensions between Ottawa and
Beijing reach new highs.
OTTAWA/CHICAGO Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between Ottawa and Beijing reach new highs.
CHICAGO A massive supply of grains has shielded the futures markets from the impact of flooding in the U.S. Midwest so far, with traders largely shrugging off this week's reports of destroyed storage bins, swamped elevators and questions about if waters will recede in time for planting.
CHICAGO U.S. farmers are gearing up to plant what could be their third-largest soybean crop ever despite failing to sell a mountain of beans from their last harvest due to a U.S.-China trade war that remains unresolved.
CHICAGO The U.S. Department of Agriculture (USDA) issued a surprise boost to its outlook for domestic corn supplies on Friday by trimming its estimate of how much will be used by exporters and ethanol producers.
(Recasts; adds analyst quote, price moves)
By Mark Weinraub
CHICAGO, March 8 The U.S. Department of
Agriculture (USDA) issued a surprise boost to its outlook for
domestic corn supplies on Friday by trimming its estimate of how
much will be used by exporters and ethanol producers.
The government also lowered its outlook for domestic soybean
supplies, bumping up its estimate of the crush, and raised its
wheat stocks view as export prospects worsened.
Domestic corn ending stocks for 2018-19 were forecast at
1.835 billion bushels, the USDA said in its monthly supply and
demand report, up from its outlook for 1.735 billion bushels in
Analysts in a Reuters poll had given corn ending stocks
estimates that ranged from 1.680 billion bushels to 1.795
The government cut its corn export view by 75 million
bushels to 2.375 billion. The latest outlook also calls for
ethanol producers to use 5.550 billion bushels of corn, 25
million less than the prior estimate.
"It was certainly warranted that they cut the corn export
forecast and the ethanol forecast, but 100 million bushels is a
fairly sizable cut for one month," said Brian Hoops, president
of Midwest Market Solutions. "It was pretty unlikely that
exports would meet that earlier forecast because of big South
American corn production this year after the drought last year."
Chicago Board of Trade corn futures sank to their
lowest since Nov. 27. Wheat futures dropped to a fresh
13-month low but quickly rebounded into positive territory,
while soybeans hit their lowest since Feb. 20.
Soybean end stocks for the 2018-19 marketing year will be
900 million bushels, down from the government's February
estimate of 910 million bushels but still the biggest on record.
The crush forecast was raised to 2.100 billion bushels from
2.090 billion bushels.
The soybean export projection was left unchanged at 1.875
billion bushels despite U.S. Agriculture Secretary Sonny
Perdue's announcement in late February that China had committed
to buying an additional 10 million tonnes of U.S. soybeans.
U.S. wheat ending stocks were pegged at 1.055 billion
bushels, up from the February outlook of 1.010 billion and above
the high end of market expectations. Wheat exports were cut to
965 million bushels from 1.000 billion.
USDA left its outlook for the Argentine corn and soybean
crops unchanged and also maintained its Brazil corn crop view.
It cut its Brazil soy harvest outlook to 116.50 million tonnes
from 117.00 million.
(Additional reporting by Karl Plume
Editing by Susan Thomas)