Most of the current changes are on the supply side of the ledger. This week’s USDA WASDE has come and gone but its effects linger. The agency’s 7 percent increase in U.S. surplus soybeans stocks held more sway than its reduction in global carryover down to 95 MMT from the December estimate of 102 MMT. However, it is the estimates for South America that are the most volatile now.
This is all due to the uncertainties over whether the La Niña is breaking now, or later. There will be some significant rains starting this weekend but the latest question is whether they will rescue southern Brazil or just Argentina? Still to be assessed are qualitative impacts with Famasul saying soybean quality in Mato Grosso do Sul is being...
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...
