Disappointing Export Sales for Soybeans The 24 November USDA export sales report was very disappointing for soybeans. It showed net soybean export sales for MY 2017/18 totaling only 869,100 MT the week ending 16 November, 45 percent below the past four-week average and a low for the marketing year. Sales for shipment in 2018/19 totaled 34,500 MT, all to Japan. Considering this is the prime marketing period for U.S. soybeans, the sales volume was far below what is necessary to reach USDA’s forecast for the year. The main destinations for the sales were China (407,100 MT), unknown (164,000 MT), Mexico (105,900 MT), the Netherlands (69,300 MT) and Peru (36,400 MT). Soybean exports were much better at 1,925,500 MT with 7.4 percent...
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.