World Perspectives
soy-oilseeds

Oilseed Highlights: WASDE Soy Highlights; U.S. Soy Export Sales

Soy-Related Changes in USDA WASDE Report USDA somewhat surprised market analysts today by reducing the forecast for U.S. soybean production in 2019 by more than most expected to 3.845 billion bushels (104.64 MMT) from its June forecast of 4.15 billion bushels (112.95 MMT). This followed the decrease in the harvested area to 79.3 million acres from the previous estimate of 83.8 million acres based on the June crop plantings report. There could be another adjustment next month as a result of an ongoing survey of planted area in key soybean-producing states that had delayed planting because of wet weather. The average soybean yield forecast was also lowered by 1 bushel/acre to 48.5 bushels/acre (3.26 MT/hectare). The other significant change...

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Trading at the CBOT today was muted with traders mostly evening positions, taking some profits, and generally not adding to or subtracting from risk ahead of the weekend. Fundamental news was light as well, except for forecasts that a tropical storm in the Gulf of Mexico will create above-avera...

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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.

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