It was interesting that corn’s losses were being blamed on a better weather outlook, but that same forecast didn’t push soybeans lower. The soy complex was trading on the positive side almost the entire session, but a development at the close caused soybean and soyoil futures to finish down. General Comments Corn opened 8-9 cents lower in the Sunday evening session and held most of those losses through today. The Sunday forecasts looked cooler but mostly dry over the next six-10 days (see maps below). There is some chatter about another heat wave, currently across the southwestern U.S. and then progressing into the Midwest at some point. Trading volume overnight was big, especially in corn. Wheat was steady to slightly higher overnight wi...
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.