USDA will release two important reports on Friday morning, 29 June. The first is the quarterly stock estimate and the second is the revised planted acreage estimates. The following charts show what the trade is looking for. Corn If there were a surprise in these quarterly stocks numbers, it would likely be in corn. The past three (maybe more) quarterly stocks numbers have swayed back and forth by approximately 200 million bushels from where the average trade estimates were. This isn't a big problem in years of big supplies; however, it could be a huge problem this Friday if the stocks number sways back towards the low end of estimates. A 1 June corn stocks number of 3 billion bushels or less would be bullish. In fact, based on what appe...
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 €...
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