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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 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...

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Sep 15 8:00 AM, Urner Barry


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...

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Aug 25 8:00 AM, Urner Barry


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...

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Aug 11 8:00 AM, Urner Barry


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...

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Jul 29 10:53 AM, Plant Protein


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


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...

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Jul 14 8:00 AM, Urner Barry


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...

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Jun 30 8:00 AM, Plant Protein


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


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...

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Jun 16 8:00 AM, Plant Protein


Rich Nelson from Allendale, Inc Weighs in on the Grain Situation

Nearby CBOT corn futures slid to a six-week floor on Tuesday following USDA’s latest Crop Progress report, which indicated that corn plantings were up to 72% complete. The latest figure was below the 5-year average but an impressive catch-up over the past few weeks. 

Despite the progress, the 72% of corn planted as of Sunday, May 22, represented the second slowest pace for that week in over 25 years. On Wednesday, corn futures closed mostly lower but recovered some of their earlier declines. The old crop July contract managed to hold onto a ½ cent gain and ended at $7.72 ¼ a bushel.

The ongoing Russia-Ukraine war has impacted the old-crop outlook due to stalled grain supplies from Ukraine’s Black Sea ports. The trade disruptions have restricted the global supply of grain and energy, exerting additional upward pressure on prices...

 

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May 27 8:00 AM, UB Newswires


Urner Barry Releases May Emerging Plant Protein Report

As of May 23, Canada still holds the top value spot on the sunflower seeds export value chart but a decrease of 44% in value year-over-year was noted. Canada also holds the top value spot for sunflower oil, with an increase of 79% in value compared to a year ago. For rice, Mexico has gained 33% in value year-over-year, remaining in the top spot on the chart this month.

The USDA projects rice exports to total 82.0 million cwt, a decrease of 3.0 million from a year prior. Meanwhile, rice from the U.S. is becoming uncompetitive as prices rise. Imports are expected to total...

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May 26 8:00 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


Urner Barry Releases May Pulse Protein Report

For pulses like dry edible beans, prospective area declines are anticipated to continue in 2022. Spring weather is an important factor and is posing threats again this year with dry conditions across several dry bean growing regions. April 2022 marked the seventh month of the 2021/22 dry bean marketing year which began in September 2021 and will end in August. Although planting decisions have been made, a variety of factors can influence the final crop mix well into the spring and early summer.

In addition to dry spring weather, key economic factors affecting reduced dry bean area include surging input costs for items like fuel and fertilizer, and elevated prices for...

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May 12 8:00 AM, Plant Protein


Urner Barry Releases April Emerging Plant Protein Report

As of April 26, Canada holds the top value spot on the sunflower seeds export value chart with a decrease of 47% in value year-over-year. Canada also holds the top value spot for sunflower oil, with an increase of 120% in value compared to a year ago. For rice, Mexico has gained 39% in value year-over-year, remaining in the top spot on the chart this month.

In April, the USDA reported that rice exports remain projected at 86.0 million cwt, more than 8% below a year ago and the smallest since 2000/01. World trade was estimated 1.1 million tons higher at 52.5 million on greater exports by...

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Apr 28 8:00 AM, Plant Protein


Concerns Mount Over Global Cooking Oil Supply As Russia-Ukraine War Continues 

Soybean futures rallied during overnight trading as traders assessed the tight global supply of cooking oils spurred by the ripple effects of the ongoing Russia-Ukraine war.

Combined, Russia and Ukraine account for about 80% of the world’s sunflower oil exports. Russia’s invasion of Ukraine has forced buyers to find alternatives to sunflower oil shipments, which have largely been stalled in Black Sea ports.

Port closures and shipping disruptions in the Black Sea region have elevated the prices of competing vegetable oils like palm oil—a common ingredient used in food, cosmetics, and cooking.

Indonesia, the world’s largest exporter of palm oil, announced last week that it will ban shipments of the product beginning April 28 in an effort to curb rising domestic prices...

 

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Apr 27 9:00 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


CBOT Corn Prices Climb to a Nearly Decade High

CBOT corn futures roared to a nearly decade-high earlier this week as traders assessed ongoing supply concerns and global disruptions precipitated by the Russia-Ukraine war.

On Monday, July corn futures eclipsed $8 per bushel, the highest level since September 2012. July corn was trading at around $6 per bushel towards the beginning of 2022.  

The ongoing conflict in Ukraine has exacerbated upward price pressure for corn, along with many other agricultural commodities. Ukraine is a major exporter of items including wheat and barley. Russia’s largest exports include oil and...

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Apr 20 11:00 AM, UB Newswires


Urner Barry Releases April Pulse Protein Report

The USDA released its Prospective Plantings report on March 31, noting that hopes for drought relief fizzled during the first couple months of 2022. With the generally dry start to the new year, there was little overall change in the western drought depiction. Also, drought coverage across the south continued to climb, reaching 59.2% in March. By March 1, national drought coverage had been greater than 40% for 75 consecutive weeks, a 21st century record.

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...

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Apr 14 8:00 AM, Plant Protein


Urner Barry Releases March Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2021/22 U.S. rice this March is for stable supplies, unchanged domestic use, reduced exports, and higher ending stocks. Projected 2021/22 all rice ending stocks were increased slightly to 34.5 million cwt, 21% lower than last year. The season-average farm price for all rice is forecasted at $15.90/cwt, a $0.20 increase on higher projected U.S. wheat, corn, and soybean prices.

The global rice outlook for 2021/22 is for larger supplies, higher consumption, increased trade, and higher stocks. Rice supplies were raised by 4.9 million tons to 701.6 million, mainly on...

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Mar 24 8:00 AM, Plant Protein


Urner Barry Releases March Pulse Protein Report

On March 1, the USDA reported an average $41.00/cwt for U.S. #1 garbanzo beans which is a slight increase from the previous month. U.S. whole green peas averaged $23.75/cwt as of early March, steady with February’s rates. Prices for yellow peas declined by $0.83 from a month ago, totaling $26.67/cwt.

Russia’s invasion of Ukraine is stressing an already strained global supply chain and its economic impact is likely to be felt by consumers and manufacturers. While an increase in costs trickles down from producers to consumers, short term consequences have already arrived. Grain markets recently hit...

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Mar 10 8:00 AM, Urner Barry


Urner Barry Releases February Emerging Plant Protein Report

In February, the USDA reported that total rice exports are projected at 87.0 million cwt, 1.0 million cwt below the previous forecast and 7% lower than a year earlier. The downward revision was based on monthly U.S. Bureau of the Census trade data through December, shipment and outstanding sales through end-January, and expectations regarding shipments and sales the remainder of the 2021/22 marketing year.

Global rice trade in calendar year 2022 is projected at 50.9 million tons, up about 1.5 million tons from the previous forecast. India and Pakistan accounted for most of the...

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Feb 24 7:57 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 February Pulse Protein Report

As of February 8, Ethiopia has bumped China from the top spot of the dried pea export value chart. A 78% increase in value year-over-year was noted for Ethiopia, and China holds the fourth spot with a 51% decrease year-over-year. Meanwhile, Canada holds the first spot for lentils with an 18% increase in value. India is no longer one of the top five countries in the export value chart for lentils, losing the fifth-place spot this month to Peru. Pakistan remains in the first spot for dried chickpea exports for the second consecutive month, with an 18% decrease in value year-over-year.

The USDA reported that U.S. export volume in 2020/21 for chickpeas, dry peas, and lentils varied. Export volume of chickpeas decreased about 15%, for a total of...

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Feb 10 8:00 AM, Plant Protein


Urner Barry Releases January Emerging Plant Protein Report

In January, the USDA reported that total rice exports are projected at 89.0 million cwt, 1.0 million cwt below the previous forecast and 6% lower than a year earlier. This represents the smallest projection since 2017/18. The downward revision was based on monthly U.S. Bureau of the Census trade data through November, shipment and outstanding sales through end-December, and expectations regarding shipments and sales the remainder of the 2021/22 marketing year.

Global rice trade in calendar year 2022 is projected at 49.5 million tons, up about 0.7 million tons from the previous forecast but down 2% from the record a year ago. Over the past month, quotes for Thailand's trading prices for most grades of milled rice were...

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Jan 27 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 January Pulse Protein Report

As of January 11, China remains at the top of the dried pea export value chart. However, a 46% decrease in value year-over-year was noted. Meanwhile, India still holds the fifth-place spot for lentils with a 90% year-over-year decline in value. Pakistan is in the first spot for dried chickpea exports as we enter 2022, with a 13% decrease in value year-over-year.

The USDA reported that the U.S. is a net exporter of dry beans with most of the country's dry bean exports sent to Mexico and Canada. Pinto bean exports in the 2020/21 marketing year grew by...

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Jan 13 8:00 AM, Plant Protein


Urner Barry Releases December Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2021/22 U.S. rice this December is for reduced supplies with unchanged domestic use, slightly lower exports, and fractionally lower ending stocks compared with November. The season-average farm price forecast for all rice is unchanged this month at $14.80/cwt, as an increase to the long grain rice forecast offset a decrease in the medium and short grain price.

The supply and use revisions have resulted in a 2021/22 ending stocks forecast of 34.5 million cwt, down 0.5 million cwt from last month and 21% less than...

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Dec 23 7:50 AM, Plant Protein


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


Urner Barry Releases December Pulse Protein Report

According to the USDA's Vegetable and Pulse Outlook, dry bean production in the September 2020 through August 2021 marketing year is down by 31% from a year prior as nearly every dry bean producing state reported production declines. The most significant production declines were within North Dakota, Michigan, and Minnesota. Dry pea, lentil, and chickpea yields were down for the 2020/21 marketing year due to drought. Dry pea yield is down 41%, lentil yield is down 47%, large chickpea yield is down 48%, and small chickpea yield is down 57% from 2020.

Also, planted area for dry edible beans declined by 20% from 2020 with planted area levels like the 2017 crop. Pinto, black, and dark red kidneys are each down 19%, and navy beans are down...

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Dec 9 8:00 AM, Plant Protein


Urner Barry Releases November Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2021/22 U.S. rice this November is for increased supplies with higher domestic use, lower exports, and larger ending stocks. Supplies were raised on increased rice production by 3.3 million cwt to 193.8 million cwt. The all-rice yield is projected at a record 7,765 pounds per acre, up 131 pounds from the previous estimate. Record yields are forecast for Arkansas, California, Mississippi, and Missouri.

Harvested area remains estimated at 2.5 million acres, more than 16% below a year ago. All reported states except Texas are estimated to have harvested area below a year earlier. Texas has seen a slight increase of 5% year-over-year. In the Delta, harvested area in Arkansas remains reported at...

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Nov 24 11:00 AM, Plant Protein


Urner Barry Releases November Soy & Wheat Report

This month, the U.S. soybean outlook for 2021/22 is for lower production and exports, and higher ending stocks. Soybean production is forecast at 4.42 billion bushels, down 23 million on lower yields. Lower yields in Indiana, Iowa, Ohio, and Kansas account for most of the change in production. The U.S. season-average soybean price is forecast at $12.10/bu, a decrease of $0.25.

According to the USDA's Crop Progress report, soybean harvest is just about on par with the five-year average rate at 87% completion. Minnesota reported that...

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Nov 18 8:00 AM, Plant Protein


Urner Barry Releases November Pulse Protein Report

On November 2, the USDA reported an average $42.00/cwt for U.S. #1 garbanzo beans compared to $52.00/cwt at the end of October. U.S. whole green peas averaged $25.83/cwt as of end-October, a slight increase of $0.83/cwt as of end-September. Prices for yellow peas remain steady at $30.00/cwt.

Government efforts to curb energy consumption and reduce carbon emissions, along with surging coal prices, are leading to outages across many of China's manufacturing hubs. Over the past week, local officials have forced factories in China to curtail operating hours or...

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Nov 11 8:00 AM, Plant Protein


Urner Barry Releases October Emerging Plant Protein Report

According to the latest USDA WASDE, the outlook for 2021/22 U.S. rice this October is for reduced supplies with lower domestic use, unchanged exports, and smaller ending stocks. Supplies were reduced on lower projected imports that more than offset minimally higher production. NASS increased the average all rice yield by 2 pounds per acre, to 7,625 pounds. Total domestic and residual use was decreased by 1.0 million cwt to 146.0 million on lower supplies, and ending stocks were reduced to 33.2 million cwt, down 1.0 million. The season-average farm price for all rice remains unchanged at $14.80/cwt.

Persistent rainfall across the southern United States this spring delayed rice planting and field operations, which has led to slightly slower than average harvest pace to date. For the week ending October 3...

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Oct 21 8:00 AM, Plant Protein


Urner Barry Releases October Soy & Wheat Report

In the latest WASDE report, the USDA stated that the outlook for 2021/22 U.S. wheat this October is reduced supplies, lower domestic use, unchanged exports, and decreased ending stocks. Projected 2021/22 ending stocks were reduced by 35 million bushels to 580 million, which are the lowest U.S. ending stocks since 2007/08. The projected 2021/22 season-average farm price was raised $0.10/bu to $6.70/bu on reported NASS prices to date and price expectations for the remainder of 2021/22.

Soybean supplies for 2021/22 were projected at 4.7 billion bushels, up 145 million on higher production and beginning stocks. With higher crush and unchanged exports, 2021/22 ending stocks were projected...

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Oct 14 8:00 AM, Plant Protein


Urner Barry Releases October Pulse Protein Report

On October 5, the USDA reported an average $51.00/cwt for U.S. #1 garbanzo beans compared to $40.00/cwt at the end of September. U.S. whole green peas averaged $25.00/cwt as of end-September, a slight increase of $0.84/cwt as of end-August. Prices for North American yellow peas saw an increase of $4.17/cwt last month, totaling $28.33/cwt.

After making landfall as a Category 4 hurricane in Louisiana at the end of August before weakening to a tropical storm, Hurricane Ida caused significant damage to oil and gas processing facilities, grain facilities and ports. After a two-week closure, Cargill restarted its Westwego, Louisiana, grain export terminal and unloaded its first grain barge. Also, power was restored to Cargill's heavily damaged terminal in...

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Oct 7 8:45 AM, Plant Protein







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