USDA’s May WASDE (supply/demand) contained more positive news in terms of price potential for MY 2018/19 than there has been over the past several years. WPI has commented several times this spring on how world weather, starting with the major drought across Argentina, hasn’t been as production-friendly. U.S. ending stocks of wheat, corn and soybeans are all projected to decline in the coming marketing year, but the degree of those drops will of course depend on final yields. Following are a few items the market must pay attention to going forward:
The U.S. wheat production forecast is too high. Kansas abandonment was pegged at only 5.2 percent in yesterday’s reports versus 8.6 percent last year, and Oklahoma was place...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
