August 27, 2020
Wall Street Journal writers Bob Davis and Lingling Wei reported this week that, “Senior U.S. and Chinese officials said they were committed to carrying out the phase-one trade accord between the two nations, the two governments said, after the two sides discussed the pact Monday evening U.S. time. “The videoconference brought together U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and […]
August 25, 2020
Crop tour estimates and derecho damage brought USDA corn production forecasts for the 2020 crop under question over the last week. While a lower domestic supply of corn supports corn prices, USDA projections of corn consumption in 2020-21 under current economic conditions seem in the high end of the possibility set. Corn exports showed strength […]
August 25, 2020
Wall Street Journal writer Kirk Maltais reported on Saturday that, “Following a growing season last year filled with battering rainfall and bitter trade wars, U.S. farmers hoped 2020 would provide them an opportunity to make up some ground. Instead, the situation has grown worse for many as prices remain depressed. “Despite a wind storm tearing through Midwestern farms last week and drought conditions in isolated […]
August 20, 2020
Bloomberg News reported this week that, “President Donald Trump said he called off last weekend’s trade talks with China, raising questions about the future of a deal that is now the most stable point in an increasingly tense relationship. ‘I canceled talks with China,’ Trump said Tuesday in Yuma, Arizona. ‘I don’t want to talk to […]
August 18, 2020
The highly anticipated August Crop Production report presented a record yield for soybeans this year. Despite the forecast of higher production, soybean futures went into the weekend up over 30 cents for the week. Strong Chinese demand and skepticism surrounding production levels supported this rally. The soybean crop forecast of 4.425 billion bushels is 873 […]
August 17, 2020
Reuters writer Tom Polansek reported on Friday that, “A storm packing hurricane-force winds on Monday impacted 37.7 million acres of farmland across the Midwest, including 14 million in Iowa, the Iowa Soybean Association said on Friday, citing estimates from the U.S. Department of Agriculture. “The toll from the derecho storm has worsened as farmers and grain handlers have spent […]
August 11, 2020
The December futures price of corn settled in a range of $3.20 – $3.25 over the last few trading sessions. Questions regarding a price bottom for corn bubbled up in market discussions. A yield-enhancing weather outlook and flattening ethanol production offset large export sales last week. A change in the recent corn price pattern involves […]
August 7, 2020
What a difference July rainfall makes. The U.S. Drought Map based on data through July 28 showed that only six percent of Illinois was rated as abnormally dry or with moderate drought, down from nearly 19 percent two weeks earlier. Above-normal rainfall over the past week in the southern half of Illinois will erase at […]
August 6, 2020
Lingling Wei and Bob Davis reported in today’s Wall Street Journal that, “The U.S. and China have agreed to high-level talks on Aug. 15 to assess Beijing’s compliance with the bilateral trade agreement signed early this year, according to people briefed on the matter. “The trade pact has emerged as one of the few remaining avenues for the two countries […]
August 6, 2020
Reuters writer Stephanie Kelly reported this week that, “The U.S. Department of Energy has recommended that some of the oil refiners that applied for retroactive exemptions from the nation’s biofuel blending law be granted partial relief, two sources familiar with the matter said on Tuesday. “The move could help bring those refining companies into compliance with a court ruling earlier this […]
