Today’s trade was much more reserved, but volume was again well above average. Funds continued to slowly add to their long soybean position, now reportedly near 300 million bushels. Wheat also found some buyers at the close with the soy and corn markets. General Comments Today was the end a very tumultuous week and the start of a new month. Yesterday’s long-awaited USDA planting intentions report left the corn market stunned with acres nearly 4 million higher than the average trade guess and 6 million above last year’s number. It left most people scratching their heads over how the trade could miss the number by such a wide margin. The wheat acreage estimate was bullish and, soybean’s was neutral to slightly bullish. The big question goin...
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
Accountability and a comprehensive approach to export programming
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