Wheat There are interesting dynamic’s with Argentina’s old crop wheat. The first is an escalation in demand, not only from Brazil but also from various African countries. With supplies limited due to government restrictions and booming demand, FOB prices started to rise. The May/June Upriver 11.5 percent protein positions rose about $15/20/MT during the first two weeks of April. Then the biggest increases occurred with an additional $35/MT rally in the last two weeks. Consequently, May shipment went from $375/MT to $435/MT while June went from $385 to $440/MT. In the middle of these increases, there was good volume traded in the FOB market to multiple destinations, but Brazil was always in the lead. At the end of last we...
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...
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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Illuminating the value of technical research
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