The soy complex was once again supported by renewed strength of soymeal futures. It appeared that commercial end users were buying meal futures as protection against a continuation of the major rally in meal prices that began in April. This put some air under soybeans as well. General Comments Overnight trading in CME grain and soy futures continued yesterday’s downward price action, although it was much more subdued. There were further losses across the board, but they were modest and limited. Trading at the Dalian Commodity Exchange took a similar pattern with mostly small losses for soymeal, corn and soybeans. Dalian palm oil was also slightly lower even though short covering rallied Malaysian palm oil prices.The CME day session was no...
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.