Overnight trading once again saw corn and wheat futures prices reluctant to move very far away from the previous close. Soybeans traded higher briefly, but prices reversed and headed lower during the wee hours. Trading volume was also once again unimpressive. The day session found wheat and corn prices headed lower, which is where they stayed most of the time. The drop in soybean prices accelerated, down as much as 14.5 cents at session lows. While recovering from their deepest losses toward the close, the January contract still finished down about 10.75 cents and back well below the $10.00 mark. Soymeal was a big drag on soybeans with January meal closing down $6.90. Soyoil ignored the overnight dip of Malaysian palm oil prices with Januar...
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.