The CBOT was mostly higher in quiet trade to end the week. Corn and soybean futures moved higher in some technical buying and short-covering due to the expected frost/freeze across the northern and western Corn Belt this weekend. Wheat futures tried to follow corn higher but pared gains heading into the close and settled with a scant increase for the day. Funds were modest net buyers but most of the day was dedicated to adjusting positions before this weekend’s weather risk and next Wednesday’s October WASDE. The October WASDE is expected to show smaller U.S. corn production and ending stocks while the impacts of the 1 September Grain Stocks estimate should add some 40 Mbu to the 2022/23 soybean carry-out. Wheat ending st...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.