Back on 4 February we ran an analysis of what the potential 2013/14 U.S. wheat situation might look like. The table below is from that report.A fair amount of water has gone under the proverbial bridge since then, so we have decided to revisit the subject and talk about things that have or haven't changed since then.Here are some things that haven't changed:
Much of the hard red winter wheat region is still in the midst of a very significant drought. This week's first national crop condition ratings released last Monday showed the crop ratings for this date are among the worst ever. We expect they will slip more in next Monday's report. In addition to the drought, very cold temperatures in the last two weeks did cause some additiona...
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 €...
