Key Takeaways:
Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total revenue above full cost by 1 cent in 2022, $1.29 in 2024 and 63 cents in 2025, while 2021 and 2023 still fell short by $2.89 and $4.23. Federal orders still matter, but they do not reach that support: the 2025 make-allowance update alone took roughly 85 to 92 cents off class prices, yet nothing in the order system touches cattle markets. The calf boom is now straining the herd: breeding for beef has pushed dairy replacement supplies to their lowest level...
Key Takeaways: The United States, Brazil, Argentina, and Ukraine dominate global corn exports, with geography, trade relationships, and seasonal production patterns shaping their competitive advantages. U.S. corn exports reached a record 87.1 MMT in 2025/26, with Mexico, Japan, South Korea, an...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
