Terrain Research

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Pre-Harvest Outlook: Fewer Bushels, Brighter Demand

Corn and soybeans are nearing the finish line, and the Pro Farmer Crop Tour in mid-August reinforced what we and markets have predicted: There is likely less corn production than

Sizing Up the Competition

Imports have captured a growing share of the U.S. market over time while exports have steadily declined. The Import Challenge The U.S. has a notable trade deficit in wine. Imports

A Softer Slide for Wine and a Light Crop

The trajectory of the wine market improved slightly in the first half of 2026. Sales are still declining, in both the three-tier and direct-to-consumer (DtC) channels, but at a slower

Weighing In on Weight Loss Drugs and Agriculture

GLP-1 drugs are quickly reshaping consumers’ relationship with food. Although we’re in the early stages of understanding this technology and its impacts, research suggests the effects could be significant. Some

Days-on-Feed Not Reshaping August Futures Pattern

In the June article, I showed the radical change in the seasonal pattern of the June live cattle futures contract due to feeding cattle longer and heavier live weights. This

Will High Fuel Prices Slow Beef Demand?

Higher fuel prices have been in the headlines since the conflict between the U.S. and Iran escalated in late February. The higher prices have deflated consumer sentiment, but could shifting

Protein Boom Has a New Playbook

The butterfat boom provided an economic experiment for what happens to dairy prices when there’s a consumer trend shift. What felt like a sudden shift in 2014 (remember that famed

Counting Calories for Long-Term U.S. Export Potential

As the rate of global population growth begins to slow, and eventually halts altogether, U.S. agriculture will see a paradigm shift. One important question that arises is whether an increase

More Bushels for Biofuels and Beijing

Acres and Stocks Shift in June Report As expected, U.S. farmers planted more soybeans than last year and more than the USDA’s March Prospective Plantings report showed. Since the beginning

Corn’s Disappearing Carryout

On June 30, the USDA released the quarterly Grain Stocks report and 2026 Acreage report. The USDA forecasts corn area planted at 95.3 million acres, down 3.5% from last year