Export Quota Update Finally, the Argentine government implemented a so-called “new” system to control wheat and corn exports. The “new” system is, of course, aimed at preventing domestic shortages with the final objective of controlling inflation, which now exceeds 50 percent annually. Based on total production for a crop, the government will establish “equilibrium volumes” for grains that set export volumes. What is not yet clear is how that quota will be distributed across the different exporters. In the past, the government has used factors such as exporters’ past performance in order of registering, friendship, etc. The government can call the system what it likes, but in the end it is t...
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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