The markets have responded to last Friday's bullish corn and wheat reports as expected. Today's steep rally in the soybean market was perhaps a little stronger than many anticipated. The fact is, no matter how you slice the corn and soybean numbers, the bottom line is that little price rationing has occurred. Here are a few more points to consider. "Other" Feed Grains
The market focuses on the major feed grain crop, and that is corn. The U.S. sorghum outlook also changed considerably last Friday. USDA added 50 million bushels of feed use because the stocks simply aren't there. To keep sorghum ending supplies above zero, USDA had to reduce the sorghum export forecast by 35 million bushels. We are or will be out of sorghum as well. Sorg...
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 €...
