World Perspectives
livestock

Bearish Dairy and Lower Production Forecast

Drought, feed costs, and supply are weighing on milk production. The latest monthly data show that May daily milk production per cow is down half a pound from April; that is atypical. Over the past two decades only twice has daily milk production per cow dropped more than 0.5 pounds from April to May.   Once was last year, in the height of the COVID pandemic, milk dumping, and drying cows.  As we wrote last April: With schools closed (school lunch and school milk programs) and restaurants shut down (significantly impacting cheese demand), and the short-term grocery boom having played out, there is more milk than there is demand or ability to process it. Several large processors are reducing their milk deliveries, resulting...

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feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.5375/bushel, down $0.0675 from yesterday's close.  May 26 Wheat closed at $6.0325/bushel, down $0.135 from yesterday's close.  May 26 Soybeans closed at $11.9625/bushel, down $0.045 from yesterday's close.  May 26 Soymeal closed at $313.5/short ton, down...

feed-grains soy-oilseeds wheat

Market Commentary: Crude Oil Rally and Crash Drives Whipsaw CBOT Action

The massive rally in energy markets remains the primary story underpinning ag markets. Front-month crude oil futures ripped higher overnight and traded above $100/brl for the first time since July 2022 before scoring an overnight high just shy of $120/brl. That strength pulled ag markets &ndash...

Process Standards as NTBs; Nazi Food

Process Standards as NTBs California’s Prop 12, which a House Agriculture Committee-passed farm bill is supposed to override, restricts the sale of pork and eggs in the state if not produced according to its restrictive standards. Such processing restrictions have long been used as nontar...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.5375/bushel, down $0.0675 from yesterday's close.  May 26 Wheat closed at $6.0325/bushel, down $0.135 from yesterday's close.  May 26 Soybeans closed at $11.9625/bushel, down $0.045 from yesterday's close.  May 26 Soymeal closed at $313.5/short ton, down...

feed-grains soy-oilseeds wheat

Market Commentary: Crude Oil Rally and Crash Drives Whipsaw CBOT Action

The massive rally in energy markets remains the primary story underpinning ag markets. Front-month crude oil futures ripped higher overnight and traded above $100/brl for the first time since July 2022 before scoring an overnight high just shy of $120/brl. That strength pulled ag markets &ndash...

Process Standards as NTBs; Nazi Food

Process Standards as NTBs California’s Prop 12, which a House Agriculture Committee-passed farm bill is supposed to override, restricts the sale of pork and eggs in the state if not produced according to its restrictive standards. Such processing restrictions have long been used as nontar...

energy

Iran War Hits Fertilizer Supply and Disrupts SMP Trade

Today the war in Iran has hit its 10th day. Iranian forces have sustained their retaliatory strikes on US military assets and other key infrastructure in Kuwait, Qatar, Saudi Arabia, and the UAE. The latest Iranian attacks on Bahrain have damaged a water desalination plant. Further, more than a...

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From WPI Consulting

Accountability and a comprehensive approach to export programming

WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.

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