The soy complex started firm overnight on the warmer, drier weather forecasts, and Minneapolis wheat futures continued to charge ahead last night and today. General Comments Markets closed at 1 PM (EDT) today for the July 4th holiday in the U.S. and will not open again until 9:30 AM (EDT) Wednesday. That is also the day the weekly crop ratings will be released.USDA announced several daily export sales this morning, which included sales of corn and soymeal for MY 2017/18 and MY 2018/19. It also announced the sale of 70,000 MT of hard red winter wheat and 70,000 MT of soft white wheat to unknown.Today’s markets were again all about weather. The first map below shows precipitation over the last 24 hours, which was less than expected. The six...
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.