USDA's quarterly stocks report was bearish for corn and soybeans and slightly friendly for wheat. The table below shows the report numbers compared to a year ago and trade expectations: Corn The trade just can't seem to reach any consensus with USDA's corn stocks numbers. Today's USDA 1 September number was 136 million bushels above the average of the trade estimates, but, more importantly, was also well above even the highest of the estimates. As we wrote last Friday, this stocks number should have been clean because of the small stocks, plus there were few 2013 crop bushels in the bin as of 1 September. One client referred to the corn quarterly stocks reports as the "Wheel of Fortune". The corn stocks estimate isn't a huge deal for th...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
Key Takeaways: With the fall calf run now upon us, producers are finally getting a glimpse of what their realized profits will be for 2026. Some producers may have already obtained a strong estimate of 2026 revenues, especially if calves were forward sold in, for example, the mid-summer...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.