General Comments What more can we say about these markets, other than that we are in a full-blown weather market in the U.S. with some help from more adverse weather in the Black Sea region. Weekend rainfall across the central and eastern Corn Belt was much less than expected and temperatures were again setting records. Temperatures will back off to more normal readings this week, but rainfall chances will be very limited. The extended 10- to 14-day American (GFS) model looks much cooler and wetter, but the European model actually stays dry and turns hot. Pick your weather poison. The market ignored the GFS forecast and instead traded the hot and dry weekend weather. There are now increasing reports about poor ear set and pollination i...
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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Accountability and a comprehensive approach to export programming
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