12/31/2023 0 Comments Trump crash and burn gifMostly Siege retells scandalous stories that are pretty familiar, with few fresh disclosures. The war of attrition waged by Wolff and his fellow journalists has hardly worn Trump down he retains the freedom of the air, tweeting out a daily barrage of lies and insults and jetting off to stoke up bigots in midwestern arenas or embarrass foreign heads of state who wince as they welcome him on to their soil. Yet this is not the siege of Mafeking, let alone that of Leningrad. How the USDA's production forecast for soybeans and corn turns up in MY 2023-24 can only be revealed July 12 when the USDA releases its new WASDE report.To keep us quaking, Wolff gives his gossipy narrative a militarised title: we are asked to imagine Trump holed up in the White House as his enemies, armed with subpoenas, close in. While for corn, going by the USDA's latest acreage report, the record production forecast is possibly larger. However, as soybean acreage has been sliced massively for MY 2023-24, the output expectations are likely to be adjusted down significantly, market analysts said. However, there are forecasts calling for above-average precipitation in the first half of July, which is a critical period for both crops as they enter the development phase.Īccording to the June 29 National Oceanic and Atmospheric Administration report, the eight- to 14-day outlook projects above-normal rainfall for most of the central US July 6-12, with some higher-than-normal temperatures expected for the eastern Corn Belt.īefore the latest acreage report was released, the US was forecast to produce record volumes of corn and soybeans in MY 2023-24.Ĭorn production was pegged at 387.75 million mt, up 11% on the year, while soybeans output was projected at 122.7 million mt, up 5% on the year, according to the USDA's latest World Agriculture Supply and Demand Estimate report, released June 9. While for corn, the good-to-excellent ratings were at 50%, down 17 percentage points on the year, the USDA's crop progress data showed June 27. The good-to-excellent condition ratings were assessed at 51% for soybeans as of June 25, the worst in 35 years. The US soybean and corn markets have rapidly fluctuated since early May amid weather concerns.īoth soybean and corn crops in the US for MY 2023-24 have been under dryness stress for the better part of May and June, leading to a notable decline in crop conditions, especially in the eastern Corn Belt.Īccording to meteorologists, the key region of the Midwest has received only half of the usual rainfall so far in MY 2023-24, leading to significant stress on both corn and soybean crops. Platts, part of S&P Global Commodity Insights, assessed SOYBEX FOB New Orleans for August deliveries at $537.47/mt June 29 and CIF New Orleans corn for July deliveries at $245.30/mt. The USDA's latest estimates have taken the market analysts by surprise as the average acreage expectations for MY 2023-24 were 87.6 million acres for soybeans and 91.8 million acres for corn.Īccording to commodity analysts, soybean prices are likely to surge amid reduced acreage expectations, while corn prices could be under pressure on higher-than-expected acreage. While corn acreage is seen 2% higher than prior estimates to 94 million acres, up 6% higher on the year. Soybeans planted area has been estimated 4.6% lower from the March report to 83.5 million acres, which is also 4.5% lower on the year, the USDA data showed. Receive daily email alerts, subscriber notes & personalize your experience.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |