The CBOT started this week with an apparent reversal of last week’s trends. Wheat futures were on the defensive, thanks to more shipments from Ukraine and IKAR’s assessment that the Russian wheat crop currently total 99 MMT, which is 8 MMT above USDA’s September estimate. WPI sees that figure as a little overly optimistic, but it certainly highlights the massive Russian crop that will need a home on the world market. In contrast, corn futures waivered on both sides of unchanged but posted small gains to start the week. Technical support seems to be growing in that market and WPI looks for higher trade this week. Soybeans were encouraged by fresh export sales to China and rose 12-15 cents for the day. Funds held a quiet pre...
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...
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