Yesterday’s price weakness was met with renewed buying interest in the overnight session that carried markets higher. Strength continued into the day session and corn and soyoil each posted new contract highs. WPI hears that commercial hedging was light as farmers are focused on field work and some of Europe is still on holiday. The major themes driving the CBOT rally remain unchanged. Dry weather for Brazil and its expected disastrous impact on the safrinha crop’s yields are coupled with drought in the U.S. Plains and PNW. Concerns for the European and Russian wheat crops are pushing physical values higher, though U.S. prices remain well above the world market. U.S. soybean and wheat exports are a headwind for futures, but the...
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.