Unlike last year, soybean bulls are getting no help whatsoever from the cash market. Soybean crushers are relaxed, and export demand has fallen to a trickle. General Comments The overnight session saw wheat and corn trade both sides but wind up mostly lower, while the soy complex traded lower from the get-go, thanks to persistent long liquidation. Volume for the complex was moderate, but lighter in the grains.Soybeans, meal and oil prices continued the overnight pattern and pushed lower during the day session with commercial selling of July soybeans noted. However, the grains reversed and headed higher with KC HRW futures again in the lead and the corn market in tow. The HRW crop continues to deteriorate under the stress of temperatures i...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
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.