Markets were all higher overnight, led by the soy complex. Soybeans extended those gains to double-digits in the first 30-45 minutes of today’s session. Corn followed soybeans, while wheat couldn’t make a move. No significant relief to the dryness in Argentina coupled with a decent weekly export sales numbers drove the soybean and soymeal markets to good early gains. Outside markets were quiet. Crude oil gave back some money today, trading around $0.50/barrel lower most of the session. The U.S. dollar was just slightly firmer, but it is hovering around three-year lows. U.S. equity markets were mixed before rallying slightly on news that Senate Minority Leader Chuck Schumer (D-NY) was invited to the White House to talk about the...
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.