World Crop Acres Grow by 73 Million In Two Years

The total number of global crop acres rose by 73 million during the last two years. Agricultural Economic Insights first observed an uptick in global acreage in 2020. The number of acres had trended sideways because of sluggish commodity prices and profitability from 2014 through 2019. After acres began increasing in 2020, another increase was […]

Russia/Ukraine Impacting World Supply and Demand Numbers

Friday’s USDA World Supply and Demand forecast is starting to show impacts from Russia’s invasion of Ukraine. Gary Crawford says one of the biggest crops impacted in the report was wheat. Crawford added corn prices went up 15 cents as well, and when it comes to soybeans, prices are up roughly $2.50 from last year. […]

Vilsack: USDA Needs To Look At Boifuels For Today & Tomorrow

A ban on Russian oil imports to the U.S. recently announced recently by the White House in response to the situation in Ukraine.  Could this, perhaps, be an opportunity for the biofuels industry? “It needs to be,” according to Ag Secretary Tom Vilsack, “I think there’s an opportunity for higher blends to be a part […]

Rabobank: Wheat Buyers Considering Other Sources

Wheat prices continue to climb as the Russian invasion of Ukraine is ongoing. A Rabobank analyst said the world’s biggest wheat buyers may need to reconsider whether they’ll continue buying grain from the Black Sea regions. “Russia and Ukraine have moved a lot of wheat into the market already, so things should be pretty good […]

Wheat and Soybean Export Sales Rise

According to the USDA, export sales of wheat and soybeans rose while corn sales declined during the week ending on February 3. Wheat sales that week totaled 84,800 metric tons, up 48% compared to the previous week. That number was still down 75% from the prior four-week average. The Philippines was the top buyer at […]

Ag Exports Wrapped Up 2021 With A Big Finish

The 2021 calendar year has the honor of being the best U.S. agricultural export year, with record sales valued at $177 billion; up 18% from 2020. One reason for the record setting year was how it ended. With November sales the highest of any month in history and follow that with December, which USDA Economist […]

USDA Released February WASDE Report

The latest World Agriculture Supply and Demand report largely focused on global market conditions. The outlook for U.S. wheat this month is for stable supplies, lower domestic use, reduced exports, and higher ending stocks. The projected season-average farm price increased $0.15 per bushel to $7.30. The Department of Agriculture noted weather concerns in South America […]

Trade Update Shows Rising U.S. Export

On the trade front, the USDA is out with the latest numbers for the first eleven months of calendar year 2021. “Agricultural exports through November of 2021 were $160.6 billion; a 20% increase from 2020,” noted USDA economist, Bart Kenner, adding for the first eleven months of last year, wheat exports were running 16% ahead […]