India Raises Minimum Support Price for Oilseeds and Other Crops The government of India (GOI)yesterday announced new higher minimum support prices (MSPs) for soybeans and other crops. The increases averaged about 25 percent versus only 3-4 percent in past years. Because of upcoming elections in several key agricultural states, President Narendra Modi needs the support of farmers, and raising their incomes is key to gaining that. The MSP for soybeans is now 33,900 rupees/MT ($496.03/MT) , up from 30,500 rupees/MT, with that for sunflower seed and peanuts raised from 41,000 rupees/MT to 53,880 rupees/MT ($785.19/MT) and 44,500 rupees/MT to 48,900 rupees/MT ($712.62/MT), respectively. The greater percentage hike for sunflower seed was most l...
What You Need to Know Today: Brazilian President Luiz Inácio Lula da Silva secured reelection on Sunday, defeating right-wing Senator Flávio Bolsonaro despite trailing in the first round of voting. The surprise victory triggered a sharp selloff in Brazilian financial market...
Key Takeaways: Total U.S. crop acres (excluding hay) are forecast to expand fractionally this year due to greater oilseed crop and winter wheat plantings. One of the key drivers of this year’s crop outlook is input costs, and crops with a lower cost profile have an advantage in producers...
Soybeans Market Overview After many weeks of almost no activity in Brazil and little activity in the U.S., this week kicked off with a lot of activity in the U.S. soybean market. Once again, the sole buyer was Sinograin/Cofco, acting on behalf of the Chinese Federal Reserve, which purchased a t...
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.