Key Takeaways:
Drought and changes to the multi-year trend in cow slaughter and retention have the potential to dramatically alter beef trim supplies and pricing, and WPI specifically models three different drought scenarios for fall 2026. Based on our models, WPI expects 90 percent lean beef trim prices to fall 7 percent by mid-November and close the year down 5 percent from current values. This means the U.S.’s new 300,000 MT beef import policy comes at a time when beef markets are already sensitive to supply and price pressures, thus escalating the chances for outsized and market-distorting impacts.
The Details: Beef prices have been in the news a lot lately and have even drawn presidential ire and an unusually intense focu...
What You Need to Know Today: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...
Key Takeaways: Expanding U.S. soybean crushing capacity is strengthening domestic demand, driven largely by growing soyoil consumption from the renewable diesel and biofuels industries. Despite increased domestic processing, substantial quantities of U.S. soybeans are expected to remain availa...
