WPI analyst Matt Herrington called it correctly when he referred to yesterday’s market as the calm before the WASDE storm. It should be noted that the market often shrugs off the impact of USDA adjustments provided they are still within the range of estimates. All of today’s adjustments were within the range of analysts’ guesses in the pre-report Reuter’s poll. But many of the changes were larger than the average of the estimates. After a lackluster morning of trading, the noon-released report lit up the board for the rest of the session and moved it from mostly red to a nearly solid green. Key Takeaways
The market expected a reduction in the 2023/24 corn crop but the nearly half-percent cut was more...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
