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    Home > Food News > Food Articles > Global feed market: USDA report is positive, feed prices mostly rise

    Global feed market: USDA report is positive, feed prices mostly rise

    • Last Update: 2021-04-16
    • Source: Internet
    • Author: User
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    News from April 12th: In the week ending April 9, 2021, most of the global food market foodmate.
    net/tag_2496.
    html" class="zdbq" title="Price related food information" target="_blank">prices have risen due to the favorable supply and demand report issued by the foodmate.
    net/tag_1222.
    html" class="zdbq" title="U.
    S.
    Department of Agriculture related food information" target="_blank">US Department of Agriculture .
    The yield potential of the second-season foodmate.
    net/tag_2319.
    html" class="zdbq" title="" target="_blank">corn in foodmate.
    net/tag_3725.
    html" class="zdbq" title="Brazil-related food information" target="_blank">Brazil has declined due to planting delays and the US dollar has fallen.
    However, foodmate.
    net/tag_2463.
    html" class="zdbq" title="" target="_blank">US corn foodmate.
    net/tag_227.
    html" class="zdbq" title="" target="_blank">export sales are sluggish, and international crude oil futures have fallen, restricting price increases.
    foodmate.
    net/tag_2319.
    html" class="zdbq" title="Corn related food information" target="_blank">foodmate.
    net/tag_2463.
    html" class="zdbq" title="U.
    S.
    related food information" target="_blank">foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">
     
      On Friday, the Chicago Board of Trade (CBOT) May 2021 corn futures rose approximately 17.
    5 cents from a week ago to close at 577.
    25 cents per bushel.
    Meiwan No.
    2 yellow corn was quoted at 646.
    25 cents per bushel, an increase of 16.
    5 cents from a week ago.
    The corn futures for delivery in June 2021 on the EURONEXT exchange reported approximately 217 euros/ton, an increase of 3.
    5 euros from a week ago.
    The spot price of Argentine corn in Shanghe was US$248/ton, the same as last week, FOB price.
    The Dalian Commodity Exchange’s May corn futures closed at 2,696 yuan/ton, an increase of 86 yuan from a week ago.
     
      International crude oil futures fell this week, setting the biggest one-week decline since March last year.
    Because of the increase in crude oil production in major producing countries, the market is worried that the surge in global new crown cases is slowing the pace of economic recovery.
    The New York Mercantile Exchange (NYMEX) West Texas Intermediate Crude Oil (WTI) May contract closed at $59.
    32 per barrel, down 3.
    47% from a week ago.
    The global benchmark Brent June crude oil futures closed at $62.
    95 per barrel, down 2.
    94% from a week ago.
     
      On Friday, the ICE dollar index closed at 92.
    18 points, down 0.
    9% from a week ago.
     
      The U.
    S.
    Department of Agriculture predicted last week that US farmers planned to plant 91.
    144 million acres of corn this year, the highest since 2016, but lower than the 93.
    208 million acres expected by analysts.
    Analysts pointed out that this means that the corn market still needs to rise further in order to attract farmers to a variety of corn.
    The area planted with corn in the United States last year was 90.
    819 million acres.
    This data continues to support corn prices this week.
     
      According to the April supply and demand report released by the U.
    S.
    Department of Agriculture, the ethanol industry’s corn consumption data for 2020/21 has been revised up to 4.
    975 billion bushels from 4.
    95 billion bushels last month, and the export data has been revised up to 2.
    675 billion bushels from 2.
    6 billion bushels last month.
    Therefore, the 2020/21 U.
    S.
    corn ending inventory data was revised down to 1.
    352 billion bushels (34.
    34 million tons) from last month's 1.
    502 billion bushels.
     
      In terms of global corn, the U.
    S.
    Department of Agriculture has raised global corn production for 2020/21 from last month’s forecast of 1.
    13631 million tons to 1.
    13705 billion tons.
    However, the increase in production is smaller than the increase in consumption.
    To 1.
    15619 billion tons.
    Global corn trade is expected to be 187.
    26 million tons, higher than the 186.
    5 million tons predicted last month.
    This makes the 2020/21 global corn ending stocks estimated at 283.
    85 million bushels, which is lower than last month’s forecast of 287.
    6 million tons and also lower than the previous year’s 302.
    9 million bushels.
     
      The US Department of Agriculture’s weekly export sales report shows that for the week ending April 1, 2021, US 2020/21 net corn sales were 757,000 tons, which was 5% lower than last week and 54% lower than the four-week average.
    So far in 2020/21, the total US corn export sales have reached 66,483,100 tons, an increase of 97% over the same period last year.
     
      The first national crop progress weekly report released by the US Department of Agriculture this year shows that as of April 4, the US corn planting progress was 2%, the same as the same period last year and the same as the five-year average for the same period.
    In Texas, where the planting progress is the fastest, corn planting progress reached 55%, compared with 56% in the same period last year, and the five-year average 53%.
    Corn planting in the Midwest has not yet begun.
     
      In South America, rainfall in Argentina occurred in March, which is beneficial to the late sowing of corn.
    So far, 12% of corn planting in Argentina has been completed, up from 7% a week ago.
    This week, the Buenos Aires grain trade maintains the forecast value of corn production for 2020/21 unchanged at 45 million tons.
     
      At present, the planting of the second season corn in Brazil is basically over.
    Although the planting delay caused many farmers to continue planting corn after the ideal planting window was closed, the overall growth of the second season corn was good.
    The consulting agency AgRural predicts that the corn output in the second season this year will reach 80.
    6 million tons, which is based on historical trends.
    This week, the Brazilian National Commodity Supply Company (CONAB) forecasts that the 2020/21 corn production in Brazil will be 108,966 million tons, which is 877,000 tons higher than last month's forecast and 6.
    38 million tons higher than the previous year.
    CONAB predicts that the first-season corn output will be 24.
    513 million tons, 1.
    022 million tons higher than that in March; the second-season corn output is expected to be 82.
    608 million tons, which is 194,000 tons lower than the previous forecast; the third-season corn output is expected to be 1.
    845 million tons, compared with The last forecast value was 69,000 tons higher.
     
      In the United States, ADM said it will restart ethanol production at two US corn processing plants this year, as demand for biofuels is expected to rebound from the downturn caused by the COVID-19 pandemic.
    In April last year, due to the decline in gasoline demand, ADM decided to temporarily suspend ethanol production at two plants in Cedar Rapids, Iowa and Columbus, Nebraska.
     
      A statement issued on the ADM official website on April 1 stated that as the pace of (U.
    S.
    ) new crown vaccination accelerates and China's imports increase, the demand for corn ethanol (used to blend with gasoline) will rise.
     
      In addition, with the steady decline of global ethanol stocks and the US Environmental Protection Agency's support for the Renewable Fuel Standards Act, it will help promote ethanol sales.
    ADM expects to deliver ethanol for the customer for the first time before mid-April, and will fully start construction before the end of spring to meet the needs of the spring and summer driving seasons.
    foodmate.
    net/tag_2496.
    html" class="zdbq" title="Price related food information" target="_blank">Price foodmate.
    net/tag_1222.
    html" class="zdbq" title="U.
    S.
    Department of Agriculture related food information" target="_blank">U.
    S.
    Department of Agriculture foodmate.
    net/tag_3725.
    html" class="zdbq" title="Brazil-related food information" target="_blank">Brazilian foodmate.
    net/tag_2319.
    html" class="zdbq" title="Corn related food information" target="_blank">Corn foodmate.
    net/tag_2463.
    html" class="zdbq" title="U.
    S.
    related food information" target="_blank">U.
    S.
    foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">Exports
     
      On Friday, the Chicago Board of Trade (CBOT) May 2021 corn futures rose approximately 17.
    5 cents from a week ago to close at 577.
    25 cents per bushel.
    Meiwan No.
    2 yellow corn was quoted at 646.
    25 cents per bushel, an increase of 16.
    5 cents from a week ago.
    The corn futures for delivery in June 2021 on the EURONEXT exchange reported approximately 217 euros/ton, an increase of 3.
    5 euros from a week ago.
    The spot price of Argentine corn in Shanghe was US$248/ton, the same as last week, FOB price.
    The Dalian Commodity Exchange’s May corn futures closed at 2,696 yuan/ton, an increase of 86 yuan from a week ago.
     
      International crude oil futures fell this week, setting the biggest one-week decline since March last year.
    Because of the increase in crude oil production in major producing countries, the market is worried that the surge in global new crown cases is slowing the pace of economic recovery.
    The New York Mercantile Exchange (NYMEX) West Texas Intermediate Crude Oil (WTI) May contract closed at $59.
    32 per barrel, down 3.
    47% from a week ago.
    The global benchmark Brent June crude oil futures closed at $62.
    95 per barrel, down 2.
    94% from a week ago.
     
      On Friday, the ICE dollar index closed at 92.
    18 points, down 0.
    9% from a week ago.
     
      The U.
    S.
    Department of Agriculture predicted last week that US farmers planned to plant 91.
    144 million acres of corn this year, the highest since 2016, but lower than the 93.
    208 million acres expected by analysts.
    Analysts pointed out that this means that the corn market still needs to rise further in order to attract farmers to a variety of corn.
    The area planted with corn in the United States last year was 90.
    819 million acres.
    This data continues to support corn prices this week.
     
      According to the April supply and demand report released by the U.
    S.
    Department of Agriculture, the ethanol industry’s corn consumption data for 2020/21 has been revised up to 4.
    975 billion bushels from 4.
    95 billion bushels last month, and the export data has been revised up to 2.
    675 billion bushels from 2.
    6 billion bushels last month.
    Therefore, the 2020/21 U.
    S.
    corn ending inventory data was revised down to 1.
    352 billion bushels (34.
    34 million tons) from last month's 1.
    502 billion bushels.
     
      In terms of global corn, the U.
    S.
    Department of Agriculture has raised global corn production for 2020/21 from last month’s forecast of 1.
    13631 million tons to 1.
    13705 billion tons.
    However, the increase in production is smaller than the increase in consumption.
    To 1.
    15619 billion tons.
    Global corn trade is expected to be 187.
    26 million tons, higher than the 186.
    5 million tons predicted last month.
    This makes the 2020/21 global corn ending stocks estimated at 283.
    85 million bushels, which is lower than last month’s forecast of 287.
    6 million tons and also lower than the previous year’s 302.
    9 million bushels.
     
      The US Department of Agriculture’s weekly export sales report shows that for the week ending April 1, 2021, US 2020/21 net corn sales were 757,000 tons, which was 5% lower than last week and 54% lower than the four-week average.
    So far in 2020/21, the total US corn export sales have reached 66,483,100 tons, an increase of 97% over the same period last year.
     
      The first national crop progress weekly report released by the US Department of Agriculture this year shows that as of April 4, the US corn planting progress was 2%, the same as the same period last year and the same as the five-year average for the same period.
    In Texas, where the planting progress is the fastest, corn planting progress reached 55%, compared with 56% in the same period last year, and the five-year average 53%.
    Corn planting in the Midwest has not yet begun.
     
      In South America, rainfall in Argentina occurred in March, which is beneficial to the late sowing of corn.
    So far, 12% of corn planting in Argentina has been completed, up from 7% a week ago.
    This week, the Buenos Aires grain trade maintains the forecast value of corn production for 2020/21 unchanged at 45 million tons.
     
      At present, the planting of the second season corn in Brazil is basically over.
    Although the planting delay caused many farmers to continue planting corn after the ideal planting window was closed, the overall growth of the second season corn was good.
    The consulting agency AgRural predicts that the corn output in the second season this year will reach 80.
    6 million tons, which is based on historical trends.
    This week, the Brazilian National Commodity Supply Company (CONAB) forecasts that the 2020/21 corn production in Brazil will be 108,966 million tons, which is 877,000 tons higher than last month's forecast and 6.
    38 million tons higher than the previous year.
    CONAB predicts that the first-season corn output will be 24.
    513 million tons, 1.
    022 million tons higher than that in March; the second-season corn output is expected to be 82.
    608 million tons, which is 194,000 tons lower than the previous forecast; the third-season corn output is expected to be 1.
    845 million tons, compared with The last forecast value was 69,000 tons higher.
     
      In the United States, ADM said it will restart ethanol production at two US corn processing plants this year, as demand for biofuels is expected to rebound from the downturn caused by the COVID-19 pandemic.
    In April last year, due to the decline in gasoline demand, ADM decided to temporarily suspend ethanol production at two plants in Cedar Rapids, Iowa and Columbus, Nebraska.
     
      A statement issued on the ADM official website on April 1 stated that as the pace of (U.
    S.
    ) new crown vaccination accelerates and China's imports increase, the demand for corn ethanol (used to blend with gasoline) will rise.
     
      In addition, with the steady decline of global ethanol stocks and the US Environmental Protection Agency's support for the Renewable Fuel Standards Act, it will help promote ethanol sales.
    ADM expects to deliver ethanol for the customer for the first time before mid-April, and will fully start construction before the end of spring to meet the needs of the spring and summer driving seasons.
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