The April Feed Outlook report shows the U.S. corn exports boost 2024-25 global coarse grains trade prospects. U.S. 2024-25 corn ending stocks are expected to be 75 million bushels lower this month at 1.465 billion bushels. The lower ending stocks follow an increase in exports partially offset by a decrease in feed and residual use, based on second-quarter disappearance.

The March Feed Outlook report shows global coarse grains production prospects are raised for 2024-25. This month’s 2024-25 U.S. coarse grains outlook is for a slight reduction in supplies, with greater declines in use – ultimately, lifting ending stocks by nearly 0.5 million tons.

The February Feed Outlook report shows no changes to the 2024-25 U.S. corn supply and demand outlook this month. Corn cash prices are rising in tandem with strong demand for U.S. corn. Consequently, the average 2024-25 corn price is projected 10 cents higher at $4.35 per bushel.

The USDA’s Animal and Plant Health Inspection Service (APHIS) announced in early February that the U.S. is resuming cattle and bison imports from Mexico.

The January Feed Outlook report shows this month’s 2024-25 U.S. coarse grains outlook is for reduced supplies, as a decrease in expected corn output more than offsets gains in sorghum production. A slight bump to Sept. 1 corn stocks does little to offset the cut to production – stemming from slashed yields.

“The market sometimes, or at least now, feels like we've gone from good, to difficult, to different. And I think one of the most significant things about the current hay market right now is that things are very different,” market analyst and hay exporter Scott Courtright told attendees at the California Alfalfa and Forage Symposium.

Josh Callen, market analyst and publisher of The Hoyt Report, gave attendees at the California Alfalfa and Forage Symposium an update on hay markets in the western U.S.