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USMEF Conference Concludes with Election of New Officers, Overview of Current Trade Landscape

The U.S. Meat Export Federation (USMEF) Strategic Planning Conference wrapped up Friday in Oklahoma City with the election of a new officer team. Dean Meyer, a corn, soybean and livestock producer from Rock Rapids, Iowa, is the new USMEF chair.

In addition to raising corn and soybeans, Meyer’s diversified operation – which he oversees with his three sons – includes a cattle feedlot and a farrow-to-finish hog facility. This provides him with a deep appreciation of the diverse range of agricultural sectors that make up USMEF...

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Nov 14 9:22 AM, General News



Wheat Futures Plummet as Russia Rejoins Black Sea Grain Initiative

Russia has rejoined the Black Sea Grain Initiative just days after announcing its withdrawal from the deal on Saturday.

Over the weekend, Russia declared that it would pull out of the initiative following an alleged Ukrainian drone attack on its Black Sea fleet. The news fueled a rally in the grains futures markets, with wheat leading the sharp advances.  

Ukraine is one of the world’s top exporters of grain and other agricultural products. Russia is a key provider of fuel and energy. In 2020, Ukraine was the fifth largest exporter of wheat, according to the Observatory of Economic Complexity (OEC).  

Ukrainian grain shipments will resume Wednesday at noon, easing some concerns about global food insecurity—particularly for countries that are heavily reliant on agricultural imports to meet their needs...

 

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Nov 2 8:20 AM, UB Newswires


CME Grain Futures Climb Following Russia's Suspension of Black Sea Grain Deal 

On Saturday, Russia’s Ministry of Defense announced that it would leave the Black Sea Grain Initiative for an "undetermined period" of time.

Russia claimed that Ukraine launched a drone attack on Russia’s fleet off the coast of Crimea early Saturday. Ukraine has denied these allegations, with Ukrainian Foreign Minister Dmytro Kuleba tweeting “[w]e have warned of Russia’s plans to ruin the Black Sea Grain Initiative. I call on all states to demand Russia to stop its hunger games and recommit to its obligations.”

The Black Sea Grain Initiative was brokered by Turkey and the United Nations in July of this year. The deal was aimed at combating a potential global food shortage caused by significant disruptions to agricultural shipments from the Black Sea. Both Russia and Ukraine are significant producers and exporters of key commodities including grain and fertilizers...

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Oct 31 10:15 AM, UB Newswires


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...

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Sep 22 8:00 AM, Urner Barry


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...

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Sep 21 2:27 PM, Plant Protein


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...

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Aug 18 8:00 AM, Plant Protein


Three More Ships Carrying Ukrainian Grain Depart Port of Chornomorsk

On Friday, three additional ships carrying Ukrainian grain left the port of Chornomorsk, which is located on the north-western shore of the Black Sea.  

The first shipment of Ukrainian grain since Russia's invasion began in February departed Ukraine’s Black Sea port of Odesa on Monday under the agreement reached by Ukraine and Russia in late July. The ship arrived in Istanbul’s waters Tuesday evening and underwent a joint civilian inspection, said the Joint Coordination Centre...

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Aug 5 7:33 AM, UB Newswires


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...

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Jul 21 8:00 AM, Urner Barry


CME Grain Futures React to Potential Russia, Ukraine Deal on Grain Exports

Grain futures have been losing ground in the latest three weeks and counting, offering some reprieve for livestock producers who have been contending with high feed costs.

Since June 17th, the December corn futures contract shaved off over $1.50 per bushel, while the most actively traded soybean contract declined by over $2.00 per bushel during the same time period.

The grain complex was under pressure again on Tuesday as traders eyed a potential deal between Ukraine and Russia to resume grain exports through Ukraine’s Black Sea ports...

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Jul 20 9:44 AM, UB Newswires


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...

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Jun 23 8:00 AM, Plant Protein


Red Meat Exports Deliver Value Back to Corn and Soybean Producers, Says Study

Record-level red meat exports of $18.7 billion in 2021 had a major impact on the corn and soybean industries, according to an independent study by the Juday Group. The study quantified the returns that red meat exports brought to corn and soybean producers in 2021 nationally, and at state levels for leading corn-producing and soybean-producing states.

“The study validates the red meat industry’s collaborative approach to export market development,” says U.S. Meat Export Federation (USMEF) Chair-elect Dean Meyer, who produces corn...

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Jun 17 8:24 AM, General News


USMEF Spring Conference Examines Strong Global Demand Tempered by Growing Economic Challenges

The U.S. Meat Export Federation (USMEF) Spring Conference got underway Wednesday in San Antonio, attracting a diverse range of participants including pork, beef, lamb, corn and soybean producers, as well as packers, processors, exporters and traders from throughout the United States.

USMEF Chair Mark Swanson, who recently founded food safety consulting firm Tru Grit KGMS Enterprises LLC, welcomed attendees and urged them to take the opportunity to visit one-on-one with a strong contingent of USMEF’s international staff from Asia, Mexico...

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May 27 8:54 AM, Urner Barry


Urner Barry Releases May Soy & Wheat Report

In the latest WASDE report, the USDA stated that the outlook for 2022/23 wheat this May is reduced supplies, lower exports, and higher prices. U.S. 2022/23 wheat supplies are projected down 3%, as lower beginning stocks more than offset a larger harvest. All wheat production is estimated at 1,729 million bushels, up 83 million from a year ago. Also, all wheat yield is projected at 46.6 bushels per acre, a slight increase from last year. The USDA's first survey-based forecast for 2022/23 winter wheat production is down 8% from last year, with abandonment for Winter Wheat at the highest level since 2002. However, Spring Wheat production is expected to rebound significantly from last year's drought-reduced Hard Red Spring and Durum crops primarily on return-to-trend yields.

Globally, the 2022/23 wheat outlook is for lower supplies, increased trade, and reduced ending stocks. Production is forecast at 774.8 million tons, 4.5 million lower than a year prior. Reduced production in Ukraine, Australia, and Morocco was partially...

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May 19 8:00 AM, Plant Protein


Cargill to Build New Soybean Processing Facility in Southeast Missouri

Cargill has unveiled plans to build a new soybean processing facility located in Pemiscot County, Mo. near Hayti and Caruthersville to support growing domestic and global demand for oilseeds driven by food, feed and fuel markets. The facility will be the first of its kind for Southeast Missouri with an annual production capacity of 62 million bushels of soybeans. Cargill anticipates breaking ground on the project early next year with plans to be operational in 2026. The new facility will add approximately 45 full-time positions to the region when...

 

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May 18 8:44 AM, General News


WASDE Data Shows Lower Projected Corn Crop and Lower U.S. Exports

In the latest World Agricultural Supply and Demand Estimates (WASDE) report, the USDA's outlook for U.S. feed-grain is for lower production, domestic use, exports and ending stocks, and higher prices. The corn crop is projected at 14.5 billion bushels, which is down 4.3% from last year.  

In a special note, USDA wrote "Russia’s recent military invasion of Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally. The May WASDE represents an ongoing assessment of the short-term impacts as a result of this action". 

Total U.S. corn use for the 2022/23 year is expected to decline 2.5% from a year ago due to lower exports and domestic use. Corn used to produce ethanol is unchanged from last year, reflecting expectations of steady U.S. motor gasoline consumption

U.S. corn exports are down 4% in 2022/23 due to lower supplies and strong domestic demand. Despite record exports projected for Argentina and Brazil, a 550-million bushel drop in exports for Ukraine is the main cause for a decline in world trade...

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May 13 8:24 AM, UB Newswires


Perdue AgriBusiness Announces Collaboration with ZeaKal

Illustrating a shared commitment to improve the value and sustainability of food production, Perdue AgriBusiness and ZeaKal announced a multi-year development agreement to raise more sustainable poultry through improved soy genetics and feed quality.

ZeaKal’s PhotoSeed® trait technology increases photosynthetic capacity, converting more carbon dioxide and sunlight into energy for the plant. In soybeans, this has consistently resulted in improved oil and protein content while improving the sustainability index of the crop. As the main protein source in poultry feed, U.S. farmers and food companies have been eager to secure access to...

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May 12 8:00 AM, General News


Ukraine Formally Closes Four Seaports Under Russian Control 

In a statement released on May 2, Ukraine’s Agriculture Ministry said the country has closed the four seaports of Berdyansk, Mariupol, Skadovsk, and Kherson "until Ukraine regains control” over them.

The ministry explained that the closures have been caused by the “inability to service ships and passengers, cargo, transport, and other related economic activities so as to ensure an adequate level of shipping safety and compliance with international treaties”.

Following Russia's invasion of Ukraine in late February, Russian forces had captured or blockaded some ports, forcing all Ukrakina seaports to indefinitely halt their activities. 

Ukraine is a major exporter of agricultural commodities including grains and vegetable oils. Prior to the conflict, most of Ukraine’s exports were shipped via sea but have since been rerouted to export by train or by its Danube river ports.

On Monday, Ukrainian President Volodymyr Zelenskyy warned that Ukraine could lose tens of millions of tons of grain due to the Russian-controlled Black Sea shipping lanes...

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May 2 10:00 AM, UB Newswires


Urner Barry Releases April Soy & Wheat Report

Besides drought, this past winter season featured notable extremes. In December, multiple severe weather conditions resulted in more than 200 tornadoes. December also ended with wildfires spreading near Boulder, Colorado, after a derecho swept from the east-central Plains into the upper Midwest. A month later, blizzard conditions along the northern Atlantic coast caused the coldest air movement in 4 years across Florida's peninsula.

For 2022, area for all wheat is estimated at 47.4 million acres, a slight increase from 2021. This would represent the fifth lowest all wheat planted area since records began in 1919. At 34.2 million acres, 2022 winter wheat planted area is up 2% from last year but down less than...

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Apr 22 8:00 AM, Plant Protein


Chicago Grain Traders Await USDA's WASDE, Crop Production Reports

Chicago grain futures closed mixed on Thursday. May corn rounded out yesterday's session 1 ½ cents higher at $7.57 ¾ a bushel while May soybeans were up 26 cents to $16.45 ½ cents a bushel.

Front-month Chicago wheat slipped by 18 ¼ cents to $10.20 a bushel, pressured in part by moisture in areas of the southern wheat-producing states.

According to the USDA weather desk, recent rain from northeastern Texas eastward has eased short-term drought, although drought remains entrenched over the southern and western portions of the region.

The USDA indicates that about 46% of the nation's spring wheat production is currently located within an area experiencing drought. 

Grain prices remain largely supported by Russia's ongoing invasion of Ukraine, which has spurred concerns about global supplies amid stalled Ukrainian exports of key agricultural commodities including wheat, corn, and sunflower oil...

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Apr 8 10:15 AM, UB Newswires


Urner Barry Releases March Soy & Wheat Report

In the latest WASDE report, the USDA stated that the outlook for 2021/22 U.S. wheat this March is lower supplies, unchanged domestic use, reduced exports, and higher ending stocks. Projected 2021/22 ending stocks were raised by 5 million bushels to 653 million, but 23% lower than a year ago. The season-average farm price was raised $0.20 to $7.50/bu based on NASS prices and expectations for prices in the remainder of the marketing year. Despite the sharp increases in futures and cash prices recently, a significant majority of U.S. wheat has already been marketed this year, limiting the season-average farm price increase.

Globally, the 2021/22 wheat outlook is for higher production, decreased trade, lower consumption, and larger ending stocks. The 2021/22 global use forecast was lowered by...

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Mar 17 7:56 AM, Plant Protein


Urner Barry Releases February Soy & Wheat Report

In the latest WASDE report, the USDA stated that the outlook for 2021/22 U.S. wheat this February is stable supplies, lower domestic use, reduced exports, and higher ending stocks. Food use was lowered by 3 million bushels to 959 million with durum accounting for the entire reduction. Seed use was revised down 2 million bushels to 64 million based on NASS seed use data for the first two quarters of the marketing year. Projected 2021/22 ending stocks were raised by...

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Feb 17 8:00 AM, Plant Protein


Urner Barry Releases January Soy & Wheat Report

In the latest WASDE report, the USDA stated that the outlook for 2021/22 U.S. wheat this January is smaller supplies, reduced domestic use, lower exports, and higher ending stocks. Seed use was unchanged at 66 million bushels, reflecting the latest estimated seed use for winter wheat plantings in the fall of 2021 reported by NASS. Projected ending stocks were raised by 30 million bushels to 628 million, down 26% from last year and the lowest level since 2013/14. The season average farm price was raised $0.10/bu to $7.15/bu based on NASS prices and expectations for prices in the remainder of the marketing year.

Globally, the 2021/22 wheat outlook is for stable supplies, decreased consumption, reduced exports, and increased stocks. Production increases in Argentina and...

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Jan 20 7:55 AM, Urner Barry


Urner Barry Releases December Soy & Wheat Report

As supplies remain tight, weather will play a key role in recovery. Participants are closely monitoring Australia as it is facing record rainfall. This could impact crop quality, putting more pressure on the system. Approximately 45% of vital wheat gluten is imported into the United States from Australia and New Zealand, so these weather events could influence planting decisions in the United States.

In the latest WASDE report, the USDA stated that the outlook for 2021/22 U.S. wheat this December is slightly lower supplies, unchanged domestic use, reduced exports, and...

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Dec 16 8:00 AM, Plant Protein







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