GOOD MORNING, Soft markets were seen overnight as harvest looms large with clear weather over the next 10 days. The market continues to monitor progress in the Gulf. Traders are watching to see what the USDA has to say on Friday at 11:00 central time. Trends have been lower - - can they be reversed on report day? Sometimes that is how a market bottoms. The problems at the Gulf may have driven prices down quicker than they would have gone. Chatter has it that around 50 or more vessels were off the Gulf. It will take time to get all moving again. In the meantime, sharply higher barge rates is lowering some interior basis levels. Spreads have been weakening, and could so further as more supply c...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.