Positive Crop Tour Results Boost Agriculture Outlook, Uganda Coffee Exports Rise

Agriculture – Crop tour sees higher yields

Reports from the Pro Farmer Midwest crop tour for corn and soybean look promising. The tour reported South Dakota corn yields to be around 157.4bu/acre this year (based on 91 samples), much higher than the 118.45bu/acre from a year ago and the 3-year average of 149.71bu/acre. As for the soybean crop, the pod count average in South Dakota is seen at 1,013, higher than 871.4 pods from last year but slightly below the three-year average of 1,039.71 pods. Meanwhile, reports from Ohio estimate corn yields at 183.94 bu/acre (based on 118 field samples), compared to 174.17 bu/acre a year ago and the 3-year average of 175.64 bu/acre. Soybean pods in Ohio were seen averaging 1,252.93, above the 1,131 pods reported last year and the 3-year average of 1,161 pods.

The latest data from the Uganda Coffee Development Authority shows that Uganda’s coffee exports rose 14.5% MoM and 12% YoY to 645,832 bags (60kgs bag) in July. Last month’s shipments were the highest monthly total in over a year due to the attractive global prices and a good crop in the southwestern region.

Weekly data from the European Commission shows that soft wheat exports for the season so far fell 21% YoY to reach 4.06mt as of 20 August, down from 5.12mt for the same period last year. Meanwhile, EU corn imports stand at 2.12mt, down 35% from a similar period a year ago. The EU is expected to see a recovery in its domestic corn output this season, which should reduce its import needs.