June 3,2020 - Author: Ken Morrison
Pork producers remain on edge on unconfirmed reports China canceled sizeable volume U.S. pork. Rising supply at a time of uncertain demand, export or domestic, could not come at a more vulnerable time. Read More...

June 2, 2020 - Author: Ken Morrison
Significant open interest in 2021 soybean futures support the estimates Brazil's soy producers plan record acreage. Record-weak currency vs. the Dollar has been the catalyst for record forward sales for a crop that won't be planted until September. Read More...

June 1, 2020 - Author: Ken Morrison
Based on the dual roles of 2 of China's largest importers, market-moving media reports today that appeared at odds with each other could each be factual. Read More...

May 30, 2020 - Author: Ken Morrison
Brazil's CONAB projects cropland acreage will increase 23 million acres over the next 10 years, indicating the entire increase will be soybean production. If achieved it will be the equivalent of adding Illinois, Iowa, and Tennessee's current soybean acreage to global supply. Read More...

May 28, 2020 - Author: Ken Morrison
Forecasted heat is 'credited' for today's rally in corn and wheat. There may be other influences in play but some crop conditions are vulnerable if the forecast verifies. Read More...

May 27, 2020 - Author: Ken Morrison
Expanding on the topic in the weekend edition, we look at the influence crop condition ratings may have on corn price trends over a 6-week period. Read More...

May 26, 2020 - Author: Ken Morrison
Capacity to process cattle steadily improved last week but remains well below the level needed to eliminate the back-log of market-ready cattle. By June 1, there will be an estimated 2.7 million head that's been on feed at least 150 days. Read More...

May 25, 2020 - Author: Ken Morrison
USDA will soon issue the first-of-the-season condition rating for corn. It will require something outside the normal range of 70-75% combined good + excellent rating if corn is to breakout or breakdown from the trading range. Read More...

May 21, 2020 - Author: Ken Morrison
A national strategy paper just released by the U.S. government concludes a re-set of the relationship with China is needed. It comes following numerous criticisms and accusations aimed at China by President Trump and members of the Administration. Read More...

May 20, 2020 - Author: Ken Morrison
Given the funding is intended to compensate producers for financial harm attributable to Covid-19; January 15, the date USDA chose for eligibility, lacks credible alignment when market-harm became readily apparent. Read More...

May 19, 2020 - Author: Ken Morrison
Producers may sign-up for USDA's latest round of relief totaling $16 billion next week with payments scheduled to begin in early June. Read More...

May 18, 2020 - Author: Ken Morrison
Production improved in all 3 major proteins last week indicative of rising plant capacity and reduced employee absenteeism. Beef production still lags and pork production may be challenged to return to pre-pandemic levels but poultry production is actually higher year-over-year. Read More...

May 16, 2020 - Author: Ken Morrison
Stock prices and credit markets are but a few examples of market signals wth differing messages. Can these and other examples of sentiment that don't match the economic evidence be signaling a convergence of reality vs. expectations ? Read More...

May 14, 2020 - Author: Ken Morrison
Analyzing the outlook for global wheat requires identifying the sources of the build-up in record supply compared to the changes occurring in the major global exporters. Perhaps the outlook is not as bearish as has been presented. Read More...

May 13, 2020 - Author: Ken Morrison
Today's price action in agricultural markets may have been the result of reflecting on the implications of USDA's forecasts Tuesday. Read More...

May 12, 2020 - Author: Ken Morrison
Rather than try to tackle all the information and forecasts USDA issued today, I discuss a couple of the most impactful pieces. Read More...

May 11, 2020 - Author: Ken Morrison
U.S. meat and poultry production improved last week with more plants coming back on line. But lower-than-normal operating capacity by those open remains an uphill climb toward a return to pre-Covid-19 levels. The backlog of market-ready cattle and hogs continues to rise with no quick end in sight. Read More...

May 9, 2020 - Author: Ken Morrison
Wrapping up comments in advance of USDA's supply and demand forecast Tuesday, there are 3-4 issues that have my attention I'll be watching in the week ahead. Read More...

May 7, 2020 - Author: Ken Morrison
Circling back to issues discussed Monday, we tie up some loose ends on soybean exports in advance of Tuesday's USDA report. Read More...

May 6, 2020 - Author: Ken Morrison
Ethanol production improved in the latest week but remains more than 40% lower than the comparable week in 2019. It ensures USDA will revise corn for ethanol lower again next week and faces the challenge of forecasting it through August 2021. Read More...

May 5, 2020 - Author: Ken Morrison
The divergence of China corn prices, domestic vs. imported, has not been this wide since 2015. On paper it supports the notion China may ramp-up corn imports. But when food security is the issue, China policy does not necessarily follow the most efficient path. Read More...

May 4, 2020 - Author: Ken Morrison
Looking ahead to USDA's May 12 forecast update for the current year and the first official forecast for 2020/2021, we expect a revision for soybean exports with implications for beginning supply for the new crop year. Read More...

May 2, 2020 - Author: Ken Morrison
People often mention seasonal price tendencies as if they will occur each year. But it's important to consider exceptions to broad rules of thumb and why they may not apply to current situations. Read More...

April 30, 2020 - Author: Ken Morrison
The market closes out a month on positive notes following weeks of trend changing events but with trends still intact. Read More...

April 29, 2020 - Author: Ken Morrison
Encouraging improvement in gasoline consumption did not translate to improved ethanol production last week as ethanol producers opted to reduce ethanol stocks. It highlights the liklihood USDA will revise corn for ethanol use lower in their May forecast. Read More...

Existing Subscribers

Your user name is your email address and the password is as you designated upon subscribing.




Follow on twitter

Recent Messages