World Agricultural Supply & Demand Estimates (WASDE) September, 2020
CME Group: Farmer sentiment rebounds as commodity prices rally and agriculture trade prospects improve
WEST LAFAYETTE, Ind. and CHICAGO, Sept. 1, 2020 /PRNewswire/ — There was a big improvement in farmer sentiment in August, according to the Purdue University/CME Group Ag Economy Barometer. The index rose to a reading of 144, up 26 points from July. The Ag Economy Barometer is based on survey responses from 400 U.S. agricultural producers and was conducted between August 17-21, 2020. Continue reading
CME Group to Launch New South American Soybean (Platts) Futures Contract on September 21st
CHICAGO, Aug. 20, 2020 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced it will launch South American Soybean (Platts) Futures on September 21, 2020, pending all relevant regulatory review periods. This contract will offer market participants a new tool to directly manage exposure to the Brazilian soybean market.
“As Brazil has emerged as a leading producer and exporter of soybeans, regional pricing alternatives have become increasingly important for risk management,” said Tim Andriesen, CME Group Managing Director of Agricultural Products. “Customers have been using our benchmark grain and oilseed products to hedge their global soybean positions for over 80 years, and these new contracts will enhance those products with contracts that reflect Brazilian export prices.”
World Agricultural Supply & Demand Estimates (WASDE) August 12, 2020
Weekly Export Sales for August 6th
Export Sales Highlights
This summary is based on reports from exporters for the period July 24-30, 2020.
Winter wheat production in Colorado, based on conditions as of July 1, 2020, is forecast at 51.15 million bushels, according to the July 1 Agricultural Yield Survey conducted by the Mountain Regional Field Office of the National Agricultural Statistics Service, USDA. This forecast is 48 percent below the 98.00 million bushel crop produced last year. Estimated acreage for harvest, at 1.55 million acres, is 450,000 acres less than the 2.00 million acres harvested in 2019. As of July 1, the average yield is forecast at 33.0 bushels per acre, 5.0 bushels below the June 1 forecast and 16.0 bushels below last year’s final yield. As of June 28, Colorado’s winter wheat crop condition was rated 18 percent very poor, 21 percent poor, 31 percent fair, 27 percent good, and 3 percent excellent, compared with 1 percent very poor, 4 percent poor, 17 percent fair, 52 percent good, and 26 percent excellent last year. Winter wheat harvest was 15 percent complete, compared with 1 percent last year and the 5-year average of 5 percent.
Barley production is forecast at 8.25 million bushels, up 15 percent from the 2019 crop. Area harvested is expected to total 63,000 acres, up 11,000 acres from the 52,000 acres harvested last year. Barley yield is forecast at 131.0 bushels per acre, 7.0 bushels per acre below last year. As of June 28, Colorado’s barley crop condition was rated 5 percent poor, 24 percent fair, 51 percent good, and 20 percent excellent, compared with 1 percent very poor, 3 percent poor, 18 percent fair, 58 percent good, and 20 percent excellent last year. Barley was 62 percent headed, compared with 36 percent last year and the 5-year average of 57 percent.
UNITED STATES HIGHLIGHTS Continue reading
World Agricultural Supply & Demand Estimates (WASDE) July 10, 2020
WHEAT: The outlook for 2020/21 U.S. wheat this month is for larger supplies, lower domestic use, unchanged exports, and increased stocks. Supplies are raised as larger beginning stocks more than offset lower production. Beginning stocks are increased on the NASS Grain Stocks report, issued June 30, which indicated higher 2019/20 ending stocks than previously estimated. This also resulted in lowering 2019/20 feed and residual use by 61 million bushels to 74 million. Wheat production for 2020/21 is reduced 53 million bushels to 1,824 million. Winter wheat production is lowered 48 million bushels to 1,218 million with reductions in Hard Red Winter and Soft Red Winter. The initial 2020/21 survey-based production forecasts for other spring and Durum were issued this month by NASS.