China's Hog Crisis - Concluding or Just Getting Started?

We continue to believe that African swine fever (ASF) has had a massive impact on pork production in China and that it will take a few years for the industry to recover. Over the next year, China is likely to be a consistent and active buyer of pork on the world market. This is likely to hold the hog market in an uptrend and also drive global pork exports to record amounts over the next year.

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2019 Corn Outlook

The March USDA Supply & Demand report on March 8th was considered bearish for corn, with 2018/19 US ending stocks coming in at 1.835 billion bushels versus an average pre-report estimate of 1.751 billion and a range of expectations from 1.685 to 1.835 billion. Corn usage to make ethanol was revised down by 25 million bushels, and exports were revised down by 75 million bushels.

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Terry RoggensackSpecial, Corn