Yesterday’s corrective price action extended into the overnight session with soybeans leading the way, being down 7-8 cents. Wheat futures prices were a nickel lower, and corn was off 1-2 cents. One reason for soybeans’ continued weakness is that one weather model maintains rain for Argentine crop areas 12-15 days from now, although other models are not so optimistic. In any case, betting on weather so far ahead has not proven very successful lately. There appears little or no chance of rain for Argentine crops over the next 10 days, and temperatures are predicted to heat up to potentially stressful levels for crops that are in dire need of moisture. Red numbers dominated most of the day session as well. Selling of soybeans acc...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.