Key Takeaways:
Mexico's drought intensified from 2022 to 2024, with critically low reservoir levels in Sinaloa driving a sharp decline in corn production. Sinaloa produces roughly one-quarter of Mexico's corn crop and is the country's leading supplier of white corn used for staple foods such as tortillas. Production losses forced Mexico to import white corn from the U.S., highlighting the severity of the drought's impact on domestic food supplies. Reduced yellow corn production also increased Mexico's reliance on U.S. feed grain imports. Strong Mexican demand helped push U.S. corn exports to a record high in 2024/25, offsetting part of the decline in Chinese purchases. U.S. corn exports are expected to be even higher in 2025/26, with stron...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
