World Perspectives
biofuel

King and Queen Pillage the Village

King corn is losing a battle with Queen soybeans, and this has activated the politicians for another round of support. Renewable diesel is projected to increase five-fold from 1 billion to 5 billion gallons by 2026. Almost $2.6 billion is being invested in increased soybean crush capacity to meet this demand. It will require around 1.5 billion additional bushels of soybeans and creates three problems for corn: An edge in the battle for acres. Demand drives up profitability and farmers will grow beans instead of corn. Increased competition around coproducts. There will be a surplus of 35 million short tons of soybean meal competing with DDGS.  Winning RINs. Renewable biodiesel has a better GHG reduction value and its RINs will outc...

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Summary of Futures

Mar 23 Corn closed at $6.8375/bushel, up $0.0075 from yesterday's close.  Mar 23 Wheat closed at $7.525/bushel, up $0.025 from yesterday's close.  Mar 23 Soybeans closed at $15.3525/bushel, up $0.2575 from yesterday's close.  Mar 23 Soymeal closed at $488.7/short ton, up $15.2 fr...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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