The CBOT was mixed on Tuesday with wheat values still languishing under stiff competition from Russia. Wheat values are drifting lower despite 10-year low U.S. supplies and tight ending stocks, but with exports off to a weak start amid competition from Russia, few want to be long the market. Corn started the day weaker but rallied though the afternoon in what looks like a temporary correction with the bulk of harvest pressure yet to come. Funds were net sellers in soybeans and soyoil but offset some of that selling by adding length to the soymeal market where exports remain strong. WPI maintains our neutral/bearish outlook for the major grain markets through the Northern Hemisphere harvest. Heat and dryness are growing in Brazil and causin...
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.