Key Takeaways:
WPI’s 2025/26 corn export models continue to reflect strong international demand and put the total marketing year volume slightly above USDA’s estimates. Strong old crop corn exports are offset by weaker feed and residual use, leaving ending stocks slightly elevated. New crop corn supplies are forecast below USDA’s July estimates while our demand outlook is similarly reduced, leaving ending stocks very similar to 2025/26 levels and suggesting forward pricing stability. The U.S. 2025/26 soybean balance sheet has potential, in WPI’s view, to loosen a bit in the upcoming WASDE, though the current price rally will boost the farm-gate average price. The new crop soybean outlook is bifurcated into two...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
