Corn The increase in corn for feed demand was very large, and while the Ministry of Agriculture attributes that to higher feed demand, there was also an increasing gap between what the USDA was estimating for corn feed compared to the Ministry of Agriculture. From 2016/17 to 2023/24, the USDA has increased corn feed demand… Continue reading CASDE analysis – Tighter corn balance sheet
Tag: premium
Ag Min hikes soy imports and corn feed demand in May estimates
Corn feed demand was hiked by 17.4 million tons for the 2025/26 marketing year, according to the latest estimates from the Ministry of Agriculture. The ministry attributed this to a significant increase in demand for livestock and poultry feed. At the same time, the ministry also cut industrial corn use for 2025/26 by 3.5 million… Continue reading Ag Min hikes soy imports and corn feed demand in May estimates
Feed output surges 10.2% y/y in March
Feed output in March was 29.74 million tons, up 26.0% compared to February, and up 10.2% year on year, according to the China Feed Industry Association. Output of compound feed rose by 9.6%, concentrated feed rose by 23.9%, and premixed feed rose by 11.2%. Corn inclusions in feed were 42.9%, down from 46.9% in January… Continue reading Feed output surges 10.2% y/y in March
Grain purchases; protein prices; futures recap
Grain purchases of autumn harvest 338 million tons, down 2% y/y Grain purchases from the 2025 autumn harvest have exceeded 338 million tons as of the end of April, according to the National Food and Strategic Reserves Administration. These purchases include 103 million tons of mid and late-season rice, 222 million tons of corn, and… Continue reading Grain purchases; protein prices; futures recap
Weather forecasters warns of high temps and lodging risk for northern wheat
Temperatures were mixed over the past 10 days, with southern China being colder than usual, while areas of the northeast and northwest were warmer than usual. Rainfall continued in southern China but was lighter, and areas of the north and northeast saw 10-50mm of rainfall. The National Meteorological Center notes that on May 6-7, areas… Continue reading Weather forecasters warns of high temps and lodging risk for northern wheat
Customs reports strong April soy imports at 8.5 million tons
Soybean imports in April were 8.48 million tons, up 111% compared to March, and up 39% year on year. Marketing year-to-date imports are now 50.68 million tons, up 9.3% year on year. Based on US and Brazilian shipments, I had estimated April at 8.7 million tons. For May, this should be around 12.2 million tons… Continue reading Customs reports strong April soy imports at 8.5 million tons
CPI exceeds estimates despite large drop in pork prices
Consumer prices in China rose 1.2% year on year, higher than expectations of 0.9%. Starting in 2026, the National Bureau of Statistics re-weighted the index to include dining out in this category and reduced the weighting of grocery prices. This category has the highest weight in the index at 29.5%. In addition to falling pork… Continue reading CPI exceeds estimates despite large drop in pork prices
Temp
Hog futures volumes soar as low prices continue and losses mount In April, Dalian live hog futures traded a record 10.5 million contracts as prices fell to the lowest since their listing in 2021. Volumes were up 151% compared to March, and up 714% year on year. Overcapacity remains a major problem in the industry,… Continue reading Temp
Futures Recap
The Renminbi continued to strengthen this week, hitting 6.80 to the US Dollar, the highest since March 2023. Corn prices continued to fall today on the discussion of sales of reserve rice. The decline has seen a fall in open interest as longs closed out positions. Urea futures also continued to fall. Prices had rallied… Continue reading Futures Recap
Price Update
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