Bill Morecraft
Senior Vice President
The ABC Position Report released yesterday bumped receipts up to 2.530 billion lbs. YTD, with February monthly receipts of 21 million lbs. The top end of the 2019 crop continues to look close to 2.550 billion lbs. as referenced last month.
February shipments were up nearly 8% over the prior year, coming in at a record 201.7 billion lbs. Both the U.S, shipments of 64.3 million lbs. and the Export shipments of 137.4 million lbs. were records for the month of February. New commitments of 191.4 million lbs. exhibited continued strong demand. The strong showing in both shipments and new commitments project to an ending inventory that could fall below 450 million lbs…..[Read More]