This week's Export Sales report from USDA offers insight into the grain market's likely price pattern going forward. Based on historic export patterns, U.S. exporters are facing a situation different from last year. Similarly, soybean sales point to changing opportunities for those in the oilseed industry. There appears to be little doubt the USDA will have to increase the corn and soybean export sales estimates in next Thursday's (10 May) WASDE revisions. Export sales to China have continued to pour in over the past few weeks. The table below is an update on China's corn and soybean purchases from the U.S. for the current marketing year. There are two important numbers here:
Even though total old crop soybean sales commitments to Chin...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
