Yesterday’s soy complex market performance had many market watchers wondering what was going on. The clarity of hindsight suggests that the rally resulted from a number of factors combining to bring a rush of buying interest.Soy complex futures prices surged higher yesterday (21 November), catching many traders by surprise. Spot January soybeans were up more than 24 cents, and March soybeans were about 26 cents higher at the close as the soybean market was back to testing strong upside technical resistance levels. Those resistance points were well punctured by midway through the day session this morning, and the soybean market is looking technically strong as of this writing. Monday’s strong rally was not limited to just soybeans as the spo...
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.