A week ago we took a peek at what the U.S. wheat production and balance sheet might look like in the 2013/14 marketing year. Today we take a look at what world production might look like from our vantage point. The table below compares USDA's latest 2012 world wheat production numbers with our early guess for 2013. Conditions throughout most of the world's primary wheat production regions appear to be better than they were last year. We caution that last year's production troubles didn't surface until late in the Northern Hemisphere's winter wheat production cycle in late May and June.We do have some comments on these projections:
We focused on the poor production prospects for the U.S. hard red winter wheat crop last week and how we...
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 €...
