Author Archives: Hoai Ngan

GRAIN MARKET REVIEW: COARSE GRAINS The July World Agricultural Supply and Demand Estimates (WASDE) report from the US Department of Agriculture added more bullish ideas on demand to the factors involved. In its Grain Market Report of July 18, the International Grain Council (IGC) said its sub-index for maize prices had “firmed in recent weeks,…

USGC EXAMINES POSSIBLE DDGS EXPORTS TO INDIAN DAIRY INDUSTRY USGC recently traveled to India to examine the possibility of exporting distiller’s dried grains with solubles (DDGS) to the Indian dairy industry. “Currently, there is no market access for US DDGS in India, but there is massive demand for dry fodder in the livestock industry,” said…

CHINA FACES SOYBEAN GLUT AS PEAK U.S. EXPORT SEASON NEARS China is facing an oversupply of soybeans as record high purchases boost stockpiles at a time when animal feed demand remains subdued, with prices of products such as soyoil and soymeal set to sink even lower. The soybean surplus also threatens to curb China’s appetite…

IGC REVISES WHEAT, CORN PRODUCTION HIGHER The IGC sees 2024-25 total grains production, which includes wheat and coarse grains, 8 million tonnes higher than the June forecast at a record 2.321 billion tonnes, a 1% increase from the previous year. It said the outlook for wheat production in North America, Pakistan and Kazakhstan was improved,…

USDA: LARGEST SPRING WHEAT PRODUCTION SINCE 2020 The USDA on July 12 forecast production of spring wheat other than durum in the United States this year at 577.84 million bushels, up 72.94 million bushels, or 14%, from 504.9 million bushels in 2023. If the forecast holds, the 2024 other spring wheat crop would be the…

BRAZIL CORN PRODUCTION, EXPORTS TO DROP  Brazil expects to harvest 4.6 billion bushels (116.8 million tonnes) from its three corn crops in the 2023-24 season, a drop of 12% from last year’s record harvest, according to the CONAB. The expected reduction mainly is attributed to smaller acreage due to low prices and lower yields in…

USDA INCREASES US CORN PRODUCTION ESTIMATE, CUTS STOCKS The U.S. Department of Agriculture raised its estimate for corn production and cut the soybean production forecast on Friday, adjusting its estimates in line with the amount of acres planted with each crop. However, the Department cut its estimates for ending stocks of old and new crop…

JULY WASDE SURPRISES TRADE WITH OLD CROP ENDING STOCKS REDUCTIONS The trade was expecting new crop corn ending stocks to go up (reached 2.289 billion bushels) but the WASDE report pegged the U.S. 2024/2025 corn ending stocks lower (reached 2.102 billion bushels). Soybean ending stocks were reduced more than the trade expected (from 447 to…

LA NINA WEATHER 70% LIKELY TO DEVELOP IN AUG-OCT, SAYS US FORECASTER There is a 70% chance of the La Nina weather pattern, characterized by cold temperatures in the Pacific Ocean, developing during the August to October period. The current neutral phase between La Nina and El Nino weather patterns is expected to continue for…

USDA RATES 75% OF COUNTRY’S SPRING WHEAT GOOD TO EXCELLENT With 88% of its spring wheat crop rated good/excellent and just 1% rated less than fair, Minnesota had the best spring wheat in the country, according to USDA. In Monday’s report, the state’s spring wheat rated 0% very poor, 1% poor, 11% fair, 77% good,…