Markets are trying to take a breather from the super rally. We are also hearing another round of "bear" talk, most of which is garbage. Here are some of the bear stories:
China was canceling some corn and soybean purchases and taking the profits. Our view is that China is smarter than that. You don't sell what you can't replace if you are a user. We have rationed demand already. Our view is that we haven't started to ration demand to the necessary extent. This is especially true if you think crops are still getting smaller, not bigger. Weather shows better chances of rain in the extended models. This isn't necessarily true. Even if it were, it means it could rain on 1 August. How much good w...
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 €...
