World Perspectives
soy-oilseeds

Oilseed Highlights: NOPA Soy Crush; Soy Export Sales; Uncertainty About Sales to China

Near Record NOPA Soybean Crush in December The National Oilseed Processors Association yesterday released its monthly soybean crush report for December. The report indicated NOPA’s members reported crushing 174.812 million bushels (4.758 MMT) of soybeans in December. That was up from the 164.909 million bushels (4.489 MMT) crushed in November. It not only was a record crush volume for December, but it also was the second-largest crush during any month. The only month larger was October 2019 when 175.397 million bushels (4.774 MMT) were crushed.  The report indicated NOPA members had 1.757 billion pounds (796,970 MT) of soyoil in storage at the end of December. That was 21.3 percent greater than oil stocks on 30 November 2019 of...

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Summary of Futures

Jul 24 Corn closed at $4.5/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.2225/bushel, up $0.0175 from yesterday's close.  Jul 24 Soybeans closed at $11.7725/bushel, down $0.025 from yesterday's close.  Jul 24 Soymeal closed at $344.7/short ton, down $2.9 f...

feed-grains soy-oilseeds wheat

Market Commentary: Weather Worries Nearing a Ceiling

Large supplies and a strong dollar took their toll this week on corn and soybeans, but they still managed to outperform. Weather worries pushed wheat higher for a seventh straight session, and pork finally took a fall.  There was high volume trading in corn today but without any strong fee...

soy-oilseeds

Oilseed Highlights: Up, Despite Grey Clouds

The Market Brazil has been winning the soybean export war, and imported biodiesel feedstock threatens domestic crush margins, but Chicago trading this week appeared to shake off such concerns. July soybeans traded lower for the past three trading sessions but larger gains achieved at the beginn...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5/bushel, down $0.02 from yesterday's close.  Jul 24 Wheat closed at $6.2225/bushel, up $0.0175 from yesterday's close.  Jul 24 Soybeans closed at $11.7725/bushel, down $0.025 from yesterday's close.  Jul 24 Soymeal closed at $344.7/short ton, down $2.9 f...

Q1 GDP Comes in Low, Interest Rate Expected to Stay High

The Q1 2024 GDP was 1.6 percent, well below the pre-report consensus expectation of 2.4 percent, and down from 3.1 percent in Q1 2023 and 3.4 percent in Q4 2023. That rate was the slowest in almost two years, dating back to Q2 2022.  Recall that in the 2 February Ag Perspectives report on...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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