Key Takeaways:
Corn prices will see support in 2026/27 and likely average $5.11/bushel for farm-gate values across the marketing year. Support for corn values comes from an 8 percent year-over-year reduction in supplies that is only partially offset by a 2 percent reduction in total use. Soybeans’ 2026/27 outlook depends greatly on whether China purchases 25 MMT of soybeans. Currently, WPI holds this scenario as the most likely case, which we believe will pare back soybean ending stocks substantially. Between Chinese demand and curtailed domestic production, WPI looks for soybean ending stocks to fall to 235 Mbu and push prices into the $13.22/bushel level. Expectations for the Black Sea conflict to seriously boost U.S. wheat shipmen...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
