There were no major surprises in USDA’s May WASDE report, but there was enough to push up the volume in trading. Larger production and ending stocks are the result of higher prices in recent years. Those will be coming down. USDA’s forecast for global wheat ending stocks was 1.8 percent higher than expected, but the trade focused on a total U.S. wheat crop that is smaller than expected, and a drop in global wheat ending stocks. Similarly, its global corn ending stock number was 1.76 percent more than the trade estimated, but corn traded the rest of the session on both sides of unchanged. Despite Brazil’s large corn crop, USDA sees a healthy increase in U.S. corn exports based on sizeable production and a shar...
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.