10/15/2014Broiler Economics, US Harvest Well Underway, Oct. 2014
The progress of the US harvest is slow, but the total is expected to be huge. Harvest is slow in part due to the difficulties of bringing in an enormous crop and in part to some untimely rain, but the total amount is no longer in question. The most recent crop progress report of October 14th shows that only 24% of the corn was harvested, down from the average of 43% on that date. Crop condition is encouraging with 74% of the corn crop in good to excellent condition. Soybeans are 40% harvested; down from the average of 53% on the same date and 73% of the soybean crop is in good to excellent condition. Harvest will accelerate in the next few weeks.
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08/28/2014Broiler Economics: Harvest is Nearly Secure in the US, Aug. 2014
With just one month to go before the 2014 US corn and soybean harvest is secure, weather conditions are nearly perfect in the Corn Belt. The temperature dropped just in time for pollination and stayed relatively low in the month of August. With every passing day crop failure becomes less likely and it becomes more likely that a record amount of both corn and soybeans will be produced in the US this year. As a result, the market prices for both corn and soybeans are falling.
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06/26/2014Broiler Economics: Soybeans finally headed lower, June 2014
The cost of soybean meal has been punishingly high for the poultry industry this year. There was hope that a huge harvest in South America would bring relief a few months ago; however, a shortage of soybeans in the US kept the price in Chicago high.
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04/30/2014Broiler Economics: Reports Send Corn, Soybean Higher, April 2014
On March 31st every year there are two news releases by the USDA that have the potential of moving the grain market. One is the grain stocks report and the other is the planting intentions report. More often than not, prices in Chicago move up or down sharply on any given March 31st. This year, the reports turned out to be close to expectations and therefore caused fewer fireworks in Chicago than usual. Nevertheless, both corn and soybeans moved higher.
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02/25/2014Broiler Economics: Lower Grain Costs in 2014, Feb. 2014
The world poultry industry can look forward to significantly lower feed costs in 2014. Corn and wheat prices are already down significantly from last year while soybean meal is still a problem. Meal is still stubbornly expensive but is likely to drop in price sometime this year.
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