Yesterday’s price trends carried over into the overnight session with soybeans and soy products firmer while the grains were near unchanged to slightly lower. The soy complex traded in fair volume, but not so the grains. Overnight corn volume was especially low, and several contracts managed only a half-cent trading range. As seems to happen with some frequency these days, overnight price direction was reversed during the day session. Soybeans and products turned down and drifted below Tuesday’s closes, but the grains moved higher. Soybeans closed 2.25-3.75 cents lower, giving back 30 percent of Tuesday’s gains. Meal mostly closed about a dollar lower, and soyoil lost 13-15 points despite Malaysian palm oil futures contin...
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.