General Comments We commented yesterday that Stats Canada's estimate of Canadian canola stocks as of 31 December was slightly lower than expected and at a level that revealed an unsustainable pace of disappearance during August-December. We should also point out that estimated stocks of Canadian wheat and feed grains fell below trade expectations as well. August-December use of wheat, barley, corn and oats has exceeded predictions. Of particular note is the 10 percent increase amount of wheat used for feed during this period compared with last year, whereas USDA has been predicting an annual decline of nearly 20 percent. It seems likely that Canada's 2012/13 crop year ending stocks of canola, wheat, barley, corn and oats will all reflect...
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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