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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

WASDE Report Shows Larger Corn Production, Slightly Smaller Stocks

In the latest World Agricultural Supply and Demand Estimates (WASDE) report, the USDA outlook for U.S. corn calls for larger production, increased ethanol use, and marginally lower ending stocks. Production is forecast at 15.062 billion bushels, up 43 million from last month’s projection on a record high yield.

Exports are raised for Argentina and the EU but lowered for Bangladesh. For 2020/21, corn exports for Argentina are raised but reduced for Brazil for the local marketing year beginning March 2021.

The projected season-average corn price was unchanged at $5.45 per bushel.

CBOT corn futures reacted to the bullish news, gaining approximately 9 to 10 cents per bushel as of writing.

Soybean production was pegged at 4.42 billion bushels, down 23 million due to lower yields. Prices for soybeans were down 25 cents at $12.10 per bushel. Soybean meal and oil prices are unchanged at $325.00 per short ton and 65.0 cents per pound, respectively.

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...

Benson Hill Announces Closing of Acquisition of Soy Crushing Facility Assets 

Benson Hill, Inc., a food technology company unlocking the natural genetic diversity of plants with its cutting-edge food innovation engine announced the closing today of its acquisition of a soybean crushing facility in Seymour, Indiana.

This investment, announced on September 13, 2021, will further solidify the Company’s position in the value chain to support production of a robust portfolio of proprietary, non-GMO, identity...

Urner Barry Releases September Soy & Wheat Report

According to the latest USDA WASDE, the outlook for 2021/22 U.S. wheat this September is for reduced supplies and slightly higher domestic use with decreased imports. Projected 2021/22 ending stocks were reduced 12 million bushels to 615 million and are 27% below last year, the lowest in eight years. Also, the projected 2021/22 season-average farm price is lowered $0.10/bu to $6.60/bu on reported NASS prices to date and price expectations for the remainder of the crop season.

Globally, wheat supplies are projected to increase by 7.1 million tons for a total of 1,072.8 million. This increase is due to a combination of larger beginning stocks for Canada, the European Union, and India, with higher production for...

Benson Hill to Acquire Soy Crushing Facility to Scale Production of Soybean Ingredient Portfolio

Benson Hill, Inc. a food tech company unlocking the natural genetic diversity of plants with its cutting-edge food innovation engine, today announced the expansion of its ingredients infrastructure by entering into a definitive agreement to purchase a soybean crushing facility from Seymour, Indiana-based Rose Acre Farms. This investment represents a significant milestone in the execution of the Company's growth plan, and will be funded through the expansion of Benson Hill's debt facility with Western Technology Investment.

Benson Hill's integrated supply chain strategy combines improved...

Urner Barry Releases August Soy & Wheat Report 

Within North America, the bulk of soybean production occurs in the plains regions of the Midwest. The top soy producing states are Illinois, Iowa, and Minnesota, respectively. Kansas overwhelmingly leads nationally in all wheat production, followed by North Dakota and Montana.

According to the latest USDA WASDE, the outlook for 2021/22 U.S. wheat this August is for reduced supplies and lower domestic use with unchanged exports and...

Study Shows How Corn and Soybean Producers Benefit from U.S. Red Meat Exports

U.S. beef and pork exports brought critical returns to the corn and soybean industries in 2020, according to an independent study conducted by World Perspectives, Inc. and released by the U.S. Meat Export Federation (USMEF). According to the study, U.S. beef and pork exports added 41 cents per bushel to the value of corn and $1.06 per bushel to soybeans in 2020.

“As the study indicates, my farm gains from red meat exports in the price of every acre of crops that we grow,” says...

Urner Barry Releases July Soy & Wheat Protein Report

Average all-wheat prices increased $0.42/bu from April while average soybean prices increased as well by $0.90/bu. July front month futures decreased from May’s rates. CBOT wheat front month futures reached $6.28/bu in July, a decrease of $0.39 from June. Also, CBOT soybeans totaled...

Urner Barry Releases June Soy & Wheat Protein Report

Average all-wheat prices increased $0.18/bu from March while average soybean prices increased as well by $0.70/bu. June front
month futures decreased from May’s rates. CBOT wheat front month futures reached $6.83/bu in June, a slight decrease of $0.27
from May. Also, CBOT soybeans totaled $15.47/bu in June, representing a decline of $0.25/bu from the month prior...

PLANT PROTEIN: Get to Know Players in the Plant Protein Market: Before the Butcher

“I don’t perceive things as being hard, I see them as being a challenge that I can overcome,” says Danny O’Malley, founder and CEO of Before the Butcher, a plant-based 2017 startup out of California.

Today, the company’s extensive lineup of plant-based grounds, burgers, chunks, tips, and shreds are a slam dunk with consumers, but Before the Butcher is just getting started.

From the jump, Danny O’Malley knew he wanted the products he produced to be delicious, nutritious, non-GMO, gluten-free, and accessibly priced. In less than half a year...