Urner Barry Releases May Pulse Protein Report

As of May 10, Ethiopia remains in the top spot of the dried pea export value chart, with a 55% increase in value year-over-year (YoY) noted. Cameroon holds the fifth spot, with a 71% decrease in value. Canada is holding the number one spot for dried lentils with a 1% decrease and Mexico holds the number three position with...

Import Volumes to Sit Below 2022 for the Majority of the Year

The Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates showed import cargo volume at major U.S. ports rising from three-year lows in February.

Despite the uptick in imports, the report expects import volumes to remain well below 2022 levels heading into the fall.

“Consumers are still spending and retail sales are expected to increase this year, but we’re not seeing the explosive demand we saw the past two years,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Congestion at the ports has largely 

World Food Prices Rise for First Time In a Year

The United Nations food agency's world price index rose in April for the first time is a year, but is still some 20% down on a record high hit in March 2022 following Russia's invasion of Ukraine.

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, the agency said on Friday. The March reading was originally given as 126.9.

The Rome-based agency said the April rise reflected higher prices for sugar, meat and...

Urner Barry Releases April Soy & Wheat Report

The outlook for 2022/23 U.S. wheat in April is for slightly higher supplies, reduced domestic use, unchanged exports, and increased ending stocks. Supplies are raised by 5 million bushels on higher imports, based on...

Urner Barry Releases April Pulse Protein Report

As of April 12, Ethiopia remains in the top spot of the dried pea export value chart, with a 37% decrease in value year-over-year (YoY) noted. Cameroon holds the fifth spot, with a 79% decrease in value. Canada is holding the number one spot for...

The State of U.S. Imports as Q1 2023 Comes to a Close

While financial markets in the U.S. have recently been fighting to get through the morass of two banks nearly collapsing until being saved by the Federal Government, the show must go on. Businesses are certainly being impacted by these uncertain times with inflation and recession common, everyday words. So, what has been going on with the state of imports coming into the U.S. as we are somewhat over the pandemic according to most estimates...

Urner Barry Releases March Soy & Wheat Report

The 2022/23 U.S. wheat supply and demand outlook unchanged from February. The projected season-average farm price remains at $9.00 per bushel. The January 2023 farm price reported in the USDA, National Agricultural Statistics Service (NASS) Agricultural Prices publication was $8.82 per bushel, down from $8.98 in...

Urner Barry Releases March Pulse Protein Report

As of March 8, Ethiopia remains in the top spot of the dried pea export value chart, with a 47% decrease in value year-over-year (YoY) noted. Cameroon holds the fifth spot, with a 31% increase in value. Canada is holding the number one spot for dried lentils with a 6% decrease and...

Urner Barry Releases February Soy & Wheat Report

The potential for a smaller than anticipated Argentine soybean crop supports the U.S. soybean meal export program during the second part of the marketing year (MY), June 1-May 31. In the U.S., average soybean meal prices in Decatur, IL have risen by over $45.00 per ton in the past few months. As a result, the 2022/23 U.S. soybean meal price forecast is lifted to $450.00 per ton.

Urner Barry Releases February Pulse Protein Report

As of February 8, Ethiopia remains in the top spot of the dried pea export value chart, with a 94% increase in value year-over-year (YoY) noted. China still holds the fourth spot, with a 11% drop in value YoY. Canada is holding the number one spot for dried lentils with a 3% decrease and Sudan now holds the number two position with a sharp rise in value. Canada is holding the top spot for dried chickpea exports, with a 40% increase in value YoY. ...

NRF: February Imports to Hit Lowest Point in 3 Years

Import cargo volume is expected to drop to its lowest level since the pandemic began according to the National Retail Federation (NRF) and Hackett Associates’ Global Port Tracker report.

“With the U.S. economy slowing and consumers worried by rising interest rates and still-high inflation, retailers are importing less merchandise,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “February is traditionally a slow month, but these are the lowest numbers we’ve seen in almost three years. Retailers are being cautious as they wait...

Urner Barry Releases January Soy & Wheat Report

In the latest WASDE report, the USDA reported the 2022/23 U.S. wheat outlook in January is for increased supplies, larger domestic use, unchanged exports, and lower ending stocks. Supplies are raised on higher beginning stocks as reported in the National Agriculture Statistics Service (NASS) Grain Stocks report. Feed and residual use is increased 30 million bushels to 80 million bushels based on higher second-quarter implied disappearance based on the Grain Stocks report. The season-average farm price is ...

Urner Barry Releases January Pulse Protein Report

As of January 11, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, with a 76% decrease in value year-over-year (YoY) noted. Canada is holding the number one spot for lentils with a 9% increase and Mexico is in the number two position with a 9% rise. Pakistan continues to hold the top spot for dried chickpea exports, with a 77% decline in value YoY.

The 2022/2023 (runs from September 2022–August 2023) dry bean marketing year is underway; with...

Imports Drop Below 2 Million TEU As Pandemic-Driven Shipping Surge Comes to an End

With a pandemic-driven surge finally over, monthly import cargo volume at the nation’s major container ports has fallen below the 2 million TEU mark and should remain there through most of this spring, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Ports have been stretched to their limits and beyond but are getting a break as consumer demand moderates amid continued inflation and high interest rates,” NRF Vice President for Supply...

Urner Barry Releases December Soy & Wheat Report

In the latest WASDE report, the USDA stated the wheat outlook for 2022/23 is unchanged from November. There are offsetting changes for exports by-class with Hard Red Spring and White higher and Soft Red Winter lower.

In 2022/23, U.S. farmers are estimated to have produced a total of 1.65 billion bushels of winter, spring, and durum wheat from a harvested area of 35.5 million acres...

Joint Statement from Secretary Vilsack and Ambassador Tai after Meeting with Mexican Government

Agriculture Secretary Tom Vilsack and United States Trade Representative Katherine Tai released the following statement after Secretary Vilsack and Ambassador Tai met with a delegation of senior Mexican Government officials in Washington, D.C. today:

“Today, we welcomed a number of senior Mexican Government officials to a meeting at the United States Department of Agriculture.

“There was candid conversation about our deep concerns around the restrictions of the importation of biotech corn and other biotechnology products stemming from President López Obrador’s 2020 decree. The Mexican delegation presented...

Urner Barry Releases December Pulse Protein Report

As of December 14, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, with an 81% decrease in value year-over-year (YoY) noted. Spain is holding the third-place spot for lentils with a 13% increase and Peru still holds the fifth position. Pakistan continues to hold the top spot for dried chickpea exports this December, with an 79% decline in value YoY.

U.S. agricultural exports in fiscal year (FY) 2023 are projected at $190.0 billion, down...

Urner Barry Releases November Soy & Wheat Report

In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for November is stable supplies, increased domestic use, unchanged exports, and slightly lower ending stocks. Total domestic use is projected to be 5 million bushels higher at 1,093 million bushels as an increase in food use more than offsets a decrease in seed use.

Globally, the 2022/23 wheat outlook calls for increased supplies, consumption, trade and ending stocks this month. Supplies are projected up 1.3 million tons to...

Urner Barry Releases November Pulse Protein Report

As of October 12, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, with an 86% decrease in value year-over-year (YOY) noted. Peru is maintaining the fifth-place spot for lentils, keeping India out of the top five countries in the export value chart. Pakistan continues to hold the top spot for dried chickpea exports this October, with an 84% decline in value YOY.

According to the Commerce Department, U.S. farm exports rose to a record $196.4 billion in fiscal year (FY)...

Urner Barry Releases October Soy & Wheat Report

In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for October is lower supplies, domestic use, exports, and stocks. This is due to reductions in both harvested area and yield, which lowered production by 133 million bushels to 1,650 million bushels, only minimally higher than last year. The season-average farm price is estimated at $9.20/bushel (bu), a $0.20 increase from last month.

Globally, the 2022/23 wheat outlook calls for reduced supplies, consumption, trade and ending stocks this month. Supplies were decreased by 1.9 million tons to...

Urner Barry Releases October Pulse Protein Report

As of October 12, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, with an 88% decrease in value year-over-year (YOY) noted. Peru is maintaining the fifth-place spot for lentils, keeping India out of the top five countries in the export value chart. Pakistan continues to hold the top spot for dried chickpea exports this October, with an 83% decline in value YOY.

The USDA reported this past summer that the Saudi government lifted all COVID-19 restrictions allowing...

Imports Headed to Lowest Level Since Early 2021 But Retailers Are Well Stocked for Holidays

Imports at the nation’s major container ports are expected to fall to their lowest level in nearly two years by the end of 2022 even though retail sales continue to grow, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“The holiday season has already started for some shoppers and, thanks to pre-planning, retailers have plenty of merchandise on hand to meet demand,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said...

Urner Barry Releases September Soy & Wheat Report

In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for September is increased supplies, domestic use, exports, and reduced stocks. The outlook is relatively unchanged from August. The season-average farm price is currently estimated at $9.00/bu, a $0.25 decrease from last month. Despite the decline, the current value remains a record season-average farm price.

Globally, the 2022/23 wheat outlook calls for higher supplies, consumption, exports, and ending stocks this month. Supplies were increased by 3.6 million tons to...

Urner Barry Releases September Soy & Wheat Report

In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for September is increased supplies, domestic use, exports, and reduced stocks. The outlook is relatively unchanged from August. The season-average farm price is currently estimated at $9.00/bu, a $0.25 decrease from last month. Despite the decline, the current value remains a record season-average farm price.

Globally, the 2022/23 wheat outlook calls for higher supplies, consumption, exports, and ending stocks this month. Supplies were increased by 3.6 million tons to...

Urner Barry Releases September Pulse Protein Report

As of September 13, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, and an 89% decrease in value year-over-year was noted. Peru is maintaining the fifth-place spot for lentils, keeping India out of the top five countries in the export value chart. Pakistan continues to hold the top spot for dried chickpea exports this September, with an 84% decline in value year-over-year.

For the current marketing year, dry bean exports are at a record low...

Urner Barry Releases September Pulse Protein Report

As of September 13, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, and an 89% decrease in value year-over-year was noted. Peru is maintaining the fifth-place spot for lentils, keeping India out of the top five countries in the export value chart. Pakistan continues to hold the top spot for dried chickpea exports this September, with an 84% decline in value year-over-year.

For the current marketing year, dry bean exports are at a record low...

Import Slowdown Continues as Fed Tries to Rein in Consumer Demand

With inflation continuing and the Federal Reserve hoping to cool demand through higher interest rates, imports at the nation’s major container ports are expected to fall below last year’s levels for the remainder of 2022, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

“Consumers are still buying, but the cargo surge we saw during the past two years appears to be slowing down,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Cargo volumes are solidly..."

Urner Barry Releases August Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2022/23 U.S. rice this August is for increased supplies, unchanged domestic use and exports, and higher ending stocks. All rice production for the 2022/23 crop was increased by 1.5 million cwt to 176.0 million. The season-average farm price was raised $0.60 to a record...

Urner Barry Releases August Soy & Wheat Report

In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for August is increased supplies, domestic use, exports, and reduced stocks. Supplies were raised on higher production, with the all wheat forecast at 1,783 million bushels, up 2 million from July. Also, the all wheat yield is projected at 47.5 bushels per acre, a slight increase from last month. The season-average farm price is currently estimated at $9.25/bu, surpassing the 2012/13 record of $7.77/bu.

Globally, the 2022/23 wheat outlook calls for higher supplies, greater consumption, and increased trade. Supplies were increased by...

Urner Barry Releases August Pulse Protein Report

As of August 8, Ethiopia remains in the top spot of the dried pea export value chart. China still holds the fourth spot, and a 90% decrease in value year-over-year was noted. Meanwhile, Canada is in the first spot for lentils again, however with a 19% decrease in value. Peru is maintaining the fifth-place spot for lentils, keeping India out of the top five countries in the export value chart. Pakistan continues to hold the top spot for dried chickpea exports this August, with an 84% decline in value year-over-year.

The U.S. exports to over 70 countries and has been a net exporter of dry peas and lentils for at least three decades. However, the 2021/22 marketing year is anticipated to be...

Performance Team to Open Cold Chain Facility in South Carolina, Adds Capacity to Move More Protein

Performance Team, a company under shipping giant Maersk, will open a cold storage facility in South Carolina that is set to begin operations in Q1 2023.

The new facility will reach 80 million consumers within one day and 225 million consumers within two days, per a Maersk press release. According to American Shipper, the facility is designed to move imports of proteins, fruits and vegetables.

The publication quoted Mike Meierkort, head of logistics and services for Maersk North America, during a groundbreaking ceremony in Charleston...

Urner Barry Releases July Emerging Plant Protein Report

The USDA projects rice exports to total 79.0 million cwt, a 5% decrease year-over-year, and the lowest level since 1996/97. However, the U.S. rough-rice export forecast is up almost 10% from a year earlier. Currently, the United States is facing increasing competition from South American rough rice exporters in key Latin American markets that is preventing any long-term increase in these shipments. U.S. milled rice exports are forecast at 45.0 million cwt, 14% below a year prior. These are the lowest milled-rice exports since...

Urner Barry Releases July Soy & Wheat Report

Projected 2022/23 global wheat trade is expected to total 205.4 million metric tons, an increase of 0.2 million from a month ago. While India's exports are reduced due to their trade restrictions, they are more than offset with increases for Argentina, Russia, and Uzbekistan. Argentina has continued to export large volumes in 2021/22 as they have remained competitive and are anticipated to continue to be able to compete in the global market into the 2022/23 trade year.

According to the agriculture ministry, Ukraine's grain exports plunged 68.5% year-over-year to 165,000 tons in early July. Also, grain exports for the 2021/22 season ended June 30 rose...

Port of LA Hits New June Cargo Record

The Port of Los Angeles announced it moved 876,611 Twenty-Foot Equivalent Units (TEUs) in June, edging out last year as the best June in the Port’s 115-year history.

At the mid-point of 2022, the Port has handled more than 5.4 million TEUs, matching last year’s record-setting pace, the Port shared in a press release.

“Halfway through the year, we’ve been able to reduce the number of vessels waiting to berth by 75%, allowing dock workers to efficiently process more vessels...

Urner Barry Releases July Pulse Protein Report

Dry pea supplies in 2021/22 are tight with production down 60% year-over-year. The USDA reported that dry pea stocks were down by about 50% in December from the previous year, the lowest levels since 2012. Lentil supplies are also lower than the year prior, with production down 55%.

According to the National Weather Service, a massive heat wave is engulfing much of the Midwest and into the Southern tier of the United States. Excessive heat warnings were in effect last week, with...

Urner Barry Releases June Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2022/23 U.S. rice this June is for higher beginning and ending stocks. No other changes to the 2022/23 balance sheet were noted for this month. The season average farm price for all rice remains unchanged at $17.80/cwt, up $1.90 year-over-year.

The USDA also noted that despite a slow start to plantings this year in the South because of rain, progress of the 2022/23 crop was reported...

Urner Barry Releases June Soy & Wheat Report

According to the Ukraine Grain Association, grain silos in Ukraine are about half full leading up to this year's harvest, which means crops could be left in the ground if Russia continues blocking ports. Without access to its Black Sea ports, Ukraine would be able to export 20 million tons of grains next year at best. These exports would likely be more sunflower seeds than corn and wheat. Currently, Ukraine is attempting to ship its crop via...

Urner Barry Releases June Pulse Protein Report

Dry bean exports during the current marketing year were at a record low for the first 6 months of the September-February timeframe. Exports are currently averaging 44% below the previous year at 278 million pounds. Historically, the 2021/22 volume is 36% below the 32-year average. Also, the six-month export volume in 2004/05 was the only marketing year that was lower than the current one over the past 32 years.

Although slightly improved from the pandemic-related conditions of 2020, international trade markets remain hindered by port congestion, internal shipping delays, container availability, and trade route challenges stemming from the Russia-Ukraine war. Meanwhile, pea producers in some Russian regions face losing...

NRF Responds to Rising CPI by Urging Administration to Repeal China Tariffs

The National Retail Federation today called on the Biden administration to repeal tariffs on goods from China, citing Consumer Price Index numbers released this morning by the Bureau of Labor Statistics.

“This report showing that rampant inflation continues is one more reason for the administration to move quickly to repeal tariffs,” NRF President and CEO Matthew Shay said. “Independent researchers and government agencies agree that ending tariffs is the fastest way to relieve the pressure of higher prices that American businesses, workers and consumers are facing every day...

US Ports Remain at Near-Record Volume as Demand Continues & West Coast Contract Deadline Approaches

Imports at the nation’s major retail container ports should see near-record volume again this month as retailers work to meet still-strong consumer demand and also protect themselves against potential disruptions at West Coast ports, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“We’re in for a busy summer at the ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Back-to-school supplies are already arriving, and holiday merchandise..."