General Comments It was generally quiet in the markets today. Funds were largely absent and trading volume was light to moderate. Yesterday was the last trading day for the March contracts, and there were a few scattered deliveries in wheat, corn, soybeans, soybean oil and soybean meal. News was limited. That could be the case until we get to the end of March, when USDA releases the quarterly stocks and planting intentions reports. U.S. and world financial markets were slightly lower. The dollar was quite weak on profit-taking after setting seven-month highs.USDA did announce another 165,000 MT of new crop soybean sales this morning. Soy Complex FUTURES Soybeans had a wide trading range, trading 8-9 cents higher and that much lower, b...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.